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Riyadh Cement’s shareholders greenlight dividends for H2-23

Riyadh Cement’s shareholders greenlight dividends for H2-23
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Riyadh – Mubasher: The shareholders of Riyadh Cement Company approved the board’s recommendation to disburse cash dividends valued at SAR 90 million for the second half (H2) of 2023.

The Saudi firm will distribute a cash dividend of SAR 0.75 per share, representing 7.50% of the capital, according to a bourse statement.

In this regard, the total dividends distributed and proposed for 2023 will stand at SAR 1.55 per share, accounting for 15.50% of the share nominal value.

The shareholders granted their approval during the ordinary general meeting (OGM) that was held on 23 April 2024.

The company highlighted that the annual dividend amount is SAR 186 million, while the payment date for the H2-23 dividends will be announced at a later time.

In 2023, Riyadh Cement recorded an annual drop of 0.56% in net profit to SAR 188.77 million, compared to SAR 189.83 million.