Riyadh – Mubasher: Ataa Educational Company renewed a Sharia-compliant facility worth SAR 50 million with Saudi National Bank (SNB) on 18 January 2023 for one year.

The firm will use the loan, which is secured by a promissory note, to finance its working capital when needed, according to a bourse disclosure.

Dividends

The shareholders of Ataa Educational granted their approval for the distribution of SAR 42.08 million as cash dividends for the fiscal year (FY) 2021/2022 that ended on 31 July 2022.

Meanwhile, the company will disburse SAR 1 per share, representing 10% of the paid-up capital, for 42.08 million eligible shares.

Earlier this month, Ataa Educational inked a lease contract with Tatweer Buildings Company at a total value of SAR 118.02 million.

In FY21/22, the net profits after Zakat and tax of Ataa Educational hiked by 98.80% year-on-year (YoY) to SAR 70.61 million from SAR 35.52 million.

Revenues enlarged by 105.99% to SAR 577.49 million in FY21/22 from SAR 280.34 million in FY20/21, whereas the earnings per share (EPS) surged to SAR 1.76 from SAR 0.88.