Riyadh – Mubasher: City Cement Company posted net profits after Zakat and tax worth SAR 115.01 million in 2022, an annual drop of 28.24% from SAR 160.28 million.

The Saudi firm witnessed a 13.15% year-on-year (YoY) decline in revenue to SAR 431.38 million during the January-December 2022 period, versus SAR 496.73 million, according to the income statements.

Earnings per share (EPS) retreated to SAR 0.82 last year from SAR 1.14 in 2021.

Dividends for H2-22

The board of City Cement decided to pay out cash dividends amounting to SAR 70 million for the second half (H2) of 2022.

In this regard, the company will disburse SAR 0.50 per share, equivalent to 5% of the share nominal value, for 140 million eligible shares.  

Meanwhile, the eligibility and distribution dates for the dividends will be 21 March and 4 April 2023, respectively.

In the first nine months (9M) of 2022, the Tadawul-listed firm logged net profits after Zakat and tax worth SAR 67.25 million, a 56.26% YoY plunge from SAR 153.77 million.