Riyadh – Mubasher: BinDawood Holding Company registered 15.98% higher net profits at SAR 60.54 million in the first quarter (Q1) of 2024, compared to SAR 52.20 million in Q1-23.

Revenues witnessed a 6.64% year-on-year (YoY) growth to SAR 1.47 billion as of 31 March 2024, versus SAR 1.38 billion, according to the initial financials.

During the first three months (3M) of 2024, the earnings per share (EPS) plummeted to SAR 0.05 from SAR 0.46 in the year-ago period.

On a quarterly basis, the Q1-24 net profits dropped by 50.77% from SAR 122.99 million in Q4-23, while the revenues climbed by 1.48% from SAR 1.45 billion.

As of 31 December 2023, the Tadawul-listed firm logged net profits amounting to SAR 275.06 million, an annual leap of 120.52% from SAR 124.73 million.

Cash Dividends

BinDawood announced cash dividends valued at SAR 114.30 million for the second half (H2) of 2023.

The Saudi firm will grant a dividend of SAR 0.10 per share, representing 10% of the share nominal value, for 1.14 billion eligible shares.

Eligibility and distribution for the dividends will be on 26 May and 9 June 2024, respectively.

Last November, the company disbursed the same amount as cash dividends for H1-23.