Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) is set to disburse cash dividends worth SAR 15 million, equivalent to 7.50% of the capital, for the first half (H1) of 2024.

Avalon Pharma will pay out a dividend of SAR 0.75 per share for 20 million eligible shares, according to a bourse disclosure.

The board members approved the announced cash dividends during their meeting on 30 July 2024.

Eligibility and distribution dates for the H1-24 dividends will be 1 and 15 September 2024, respectively.

In July, Avalon Pharma obtained a SAR 70 million loan from Emirates NBD to finance its operations.