Riyadh – Mubasher: The shareholders of Yamama Cement Company greenlighted cash dividends amounting to SAR 202.50 million for 2023.

The company will disburse SAR 1 per share for eligible shareholders on 1 April 2024, according to a bourse filing.

The ordinary general meeting (OGM) approved the dividends, which represent 10% of the share’s nominal value, on 25 March 2024, while the board members recommended the amount last February.

As of 31 December 2023, Yamama Cement posted an annual drop of 14.49% in net profit to SAR 304.25 million, compared to SAR 355.79 million.

Revenues declined by 7.23% to SAR 935.19 million last year from SAR 1 billion in 2022.