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Maharah to pay SAR 45m cash dividends for H1-23

Maharah to pay SAR 45m cash dividends for H1-23
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Riyadh – Mubasher: Maharah Human Resources Company announced the board’s decision to disburse cash dividends amounting to SAR 45 million, equivalent to 10% of its capital, for the first half (H1) of 2023.

A dividend of SAR 1 per share will be distributed among 45 million eligible shares, according to a bourse filing.

Eligibility and payment dates for the dividends will be 31 August and 10 September 2023, respectively.

During the first six months (6M) of 2023, Maharah achieved net profits after Zakat and tax valued at SAR 75.77 million, up 45.68% year-on-year (YoY) from SAR 52.01 million.

Revenues hit SAR 926.54 million in the January-June 2023 period, an annual rise of 17.20% from SAR 790.56 million.

The earnings per share (EPS) jumped to SAR 1.68 in H1-23 from SAR 1.16 in H1-22.

Last April, the Saudi company obtained the approval of the Capital Market Authority (CMA)to increase its capital to SAR 475 million from SAR 375 million.