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Arriyadh Development unveils SAR 89m cash dividends

Arriyadh Development unveils SAR 89m cash dividends
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ARDCO
4150
14.14% 22.76 2.82

Riyadh – Mubasher: Arriyadh Development Company announced the shareholders’ approval for SAR  0.25 per share for the second half (H2) of 2023, according to a bourse filing.

This is in addition to SAR 0.25 per share as an exceptional distribution for selling part of the company’s lands, bringing the total dividends to SAR 88.88 million.

Meanwhile, the amount of the dividends represents 5% of the share nominal value.

The ordinary general meeting (OGM) greenlighted the board’s proposal on 23 April 2024.

In 2023, Arriyadh Development registered net profits valued at SAR 271.50 million, an annual drop of 9.62% from SAR 300.40 million.

Revenues jumped by 31.02% to SAR 339.20 million last year from SAR 258.90 million in 2022, while the earnings per share (EPS) retreated to SAR 1.53 from SAR 1.69.