Riyadh – Mubasher: The net profits after Zakat and tax of Arriyadh Development Company hit SAR 300.40 million in 2022, a 5.62% year-on-year (YoY) decline from SAR 318.30 million.

Revenues grew by 3.19% to SAR 258.90 million in the January-December 2022 period, versus SAR 250.90 million a year earlier, according to the income statements.

The earnings per share (EPS) decreased to SAR 1.69 last year from SAR 1.79 in 2021.

Dividends for H2-22

The board members recommended cash dividends amounting to SAR 44.44 million for the second half (H2) of 2022.

Arriyadh Development would disburse SAR 0.25 per share, equivalent to 2.50% of the share nominal value, for 177.77 million eligible shares.

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

The dividends proposal, which was determined on 21 March 2023, aligns with the company's strategy to balance between dividend distribution and sustainable growth.

During the first nine months (9M) of 2022, the Saudi firm registered SAR 261.73 million in net profit after Zakat and tax, down 19.52% YoY from SAR 325.20 million.