Al Rashid Industrial Company obtained the extraordinary general meeting (EGM) approval to disburse cash dividends amounting to SAR 8 million for 2023.

Eligible shares will receive SAR 1 per share, representing 10% of the share's nominal value, according to a bourse disclosure.

Al Rashid Industrial will pay the annual dividends on 11 July 2024, while the shareholders greenlighted the dividends proposal on 13 June.

In the 12-month period that ended on 31 December 2023, the company logged 28.84% higher net profits at SAR 21.32 million, compared to SAR 16.54 million in 2022.

Revenues increased by 15.91% to SAR 135.03 million in 2023 from SAR 116.49 million a year earlier, while the earnings per share (EPS) grew to SAR 2.67 from SAR 2.07.

It is worth highlighting that Al Rashid Industrial began trading its shares on the Parallel Market (Nomu) in September 2023.

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