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Aqaseem Factory’s board mulls cash dividends for 2023

Aqaseem Factory’s board mulls cash dividends for 2023
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Riyadh – Mubasher: The board members of Aqaseem Factory for Chemicals and Plastics Company proposed cash dividends amounting to SAR 5 million for 2023, according to a bourse disclosure.

The Saudi firm will pay out a dividend of SAR 2 per share, representing 20% of the share's nominal value for 2.50 million eligible shares.

Meanwhile, the distribution date will be announced after obtaining the approval of the general assembly.

It will be determined later after the assembly approves this recommendation, as the company intends to call for the assembly after obtaining the necessary regulatory approvals.

Last year, Aqaseem Factory recorded 68.42% higher net profits at SAR 10.13 million, compared to SAR 6.09 million.

Revenues increased by 7.34% to SAR 150.83 million in 2023 from SAR 140.51 million a year earlier.