Riyadh – Mubasher: The board of Middle East Paper Company (MEPCO) recommended cash dividends amounting to SAR 33.33 million for 2022.

The firm will distribute SAR 0.50 per share for 66.66 million eligible shares, according to a bourse disclosure.

Meanwhile, the payment date for the proposed dividends, which represent 5% of MEPCO’s capital, will be announced at a later time.

The company generated SAR 270.73 million in net profit after Zakat and tax during the January-December 2022 period.

As of 31 March 2023, MEPCO shifted to net losses valued at SAR 7.10 million, against net profits worth SAR 93.02 million in Q1-22.