Apr 25 2006 |
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Jordan Cement Factories to Distribute 150% Cash Dividend
Beirut (APD) - The shareholder's committee of state-owned Jordan Cement Factories Company approved the distribution of a 150% cash dividend for 2005 to JCFC's stakeholders, the Amman-based al Ghad daily reported Tuesday.JCFC will distribute JD 90.667 million in cash dividends, based on increased sales achieved in 2005. The company's domestic sales increased by 31% to JD 193.1 million compared to JD 147.27 million in 2004 whereas its exports decreased by 88% to JD 9.86 million compared to JD 18.55 million in 2004.
The company achieved an increase in net profits by 27.9% to JD 80.79 million in 2005.
The newly appointed chairman at JCFC, Omar Bdair, said that the company is planning to increase its production capacity to 5.5 million tpy in a three year plan that entails upgrading of two existing plants and the construction of a new production line in the Al Rashadiyeh plant.
"The crises that took place last month were due to a black market that was created by traders," JCFC communication manager, Hana Attiga Hudhud, told APD on Sunday.
"We had a technical problem in one of our plants where the supply went down to 12,000 tons compared to 15,000 tons per day. This was for two days only when the supply went up to its normal average that is between 15,000 and 18,000 tons," she said, adding that JCFC increased their prices only after the increase in fuel prices.
The share price of JCFC declined by 4.96% Tuesday to close at JD 13.59 compared to Monday's closing at JD 14.30. [TS]
By Nadim Issa, APD Staff Writer in Beirut
© APD (Arab Press Digest) 2006
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