Riyadh – Mubasher: Eastern Province Cement Company logged net profits after Zakat and tax worth SAR 143 million in 2022, an annual decrease of 25.91% from SAR 193 million.

Meanwhile, the revenues amounted to SAR 784 million during the January-December 2022 period, up 3.43% from SAR 758 million a year earlier, according to the income statements.

Earnings per share (EPS) shrank to SAR 1.67 last year from SAR 2.24 in 2021.

Dividends for H2-22

The board members announced cash dividends worth SAR 86 million for the second half (H2) of 2022.

Eastern Province Cement will pay out a dividend of SAR 1 per share, representing 10% of the share nominal value, for 86 million eligible shares. 

The eligibility and distribution dates for the dividends will be 26 March and 13 April 2023, respectively.

In the first nine months (9M) of 2022, the company’s net profits after Zakat and tax plummeted by 42.77% year-on-year (YoY) to SAR 91 from SAR 159 million.