Baazeem to pay 11% of capital as dividends for H2-23

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The board of Baazeem Trading Company greenlighted cash dividends, on 17 March, worth SAR 11.13 million for the second half (H2) of 2023.

The Saudi firm will distribute a dividend of SAR 1.10 per share, representing 11% of the share nominal value, for 10.12 million shares, according to a bourse disclosure.

Meanwhile, the payment date for the H2-23 dividends will be unveiled after obtaining the general assembly’s approval.

Baazeem’s net profits edged down by 0.57% year-on-year (YoY) to SAR 21.65 million in 2023 from SAR 21.77 million.

Revenues fell by 2.37% to SAR 257.10 million last year from SAR 263.35 million in 2022, while the earnings per share (EPS) dropped to SAR 2.14 from SAR 2.15.

As of 30 September, the company recorded an annual rise of 0.41% in net profit after Zakat and tax to SAR 17.55 million, compared to SAR 17.48 million.