Riyadh – Mubasher: Tam Development Company unveiled the board’s proposal to disburse cash dividends amounting to SAR 4.05 million, representing 12.30% of the capital, for 2023.

The Saudi firm will pay a dividend of SAR 1.23 per share for 3.29 million eligible shares, according to a bourse statement.

Meanwhile, the distribution date for the annual dividends will be announced after obtaining the general assembly meeting’s approval.

Annual Financials

In 2023, the net profits of Tam Development increased by 45.38% year-on-year (YoY) to SAR 40.60 million from SAR 27.92 million.

Revenues hiked by 28.10% to SAR 188.40 million last year from SAR 147.07 million as of 31 December 2022, while the earnings per share (EPS) jumped to SAR 12.33 from SAR 7.80.

Last January, the Tadawul-listed firm penned a SAR 16.99 million deal with the Ministry of Hajj and Umrah.