Riyadh – Mubasher: The board of Arabian Contracting Services Company (Al Arabia) has recommended a cash dividend payment worth SAR 95 million for the first half (H1) of 2022, according to a bourse filing on Sunday.

Al Arabia would pay SAR 1.90 per share, representing 19% of the share nominal value, for a total of 50 million eligible shares.

The eligibility and distribution dates will be announced at a later time in line with the general assembly meeting.

In H1-22, the company achieved a 62.51% year-on-year (YoY) surge in net profit after Zakat and tax to SAR 127.68 million, compared to SAR 78.56 million.

It is worth noting that Al Arabia plans to install billboards in Egypt during the fourth quarter (Q4) of 2022.