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Aldrees’ board proposes SAR 150m dividends for 2022

Aldrees’ board proposes SAR 150m dividends for 2022
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Riyadh – Mubasher: The board of Aldrees Petroleum and Transport Services Company recommended on 22 January 2023 cash dividends worth SAR 150 million for 2022, according to a bourse filing.

The Tadawul-listed firm would disburse a dividend of SAR 2 per share, representing 20% of the share nominal value, for 75 million eligible shares.

Meanwhile, the distribution date for the dividends will be announced at a later time.

In the first nine months (9M) of 2022, Aldrees logged net profits after Zakat and tax worth SAR 170 million, an annual hike of 38.55% from SAR 122.70 million.

Revenues enlarged by 39.06% to SAR 9.02 billion in 9M-22 from SAR 6.48 billion in 9M-21, whereas the earnings per share (EPS) rose to SAR 2.27 from SAR 1.64.