Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) generated SAR 100.21 million in net profit after Zakat and tax in 2022, up 9.96% year-on-year (YoY) from SAR 91.13 million.

The company’s revenues surged by 14.36% YoY to SAR 116.05 million as of 31 December 2022 from SAR 101.48 million, according to the income statements.

Earnings per share (EPS) amounted to SAR 2 last year, higher than SAR 1.82 in 2021.

Dividends

The board members proposed, on 27 March 2023, cash dividends worth SAR 30 million for 2022.

SAIC will grant SAR 0.50 per share, equivalent to 5% of the share nominal value, for 60 million eligible shares.

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

In the first nine months (9M) of 2022, the Saudi firm logged net profits after Zakat and tax of SAR 80.36 million, a 22.67% growth from SAR 65.51 million in the year-ago period.