BinDawood Holding Company registered 15.98% higher net profits at SAR 60.54 million in the first quarter (Q1) of 2024, compared to SAR 52.20 million in Q1-23.

Revenues witnessed a 6.64% year-on-year (YoY) growth to SAR 1.47 billion as of 31 March 2024, versus SAR 1.38 billion in Q1-23, according to the initial financials.

During the first three months (3M) of 2024, the earnings per share (EPS) plummeted to SAR 0.05 from SAR 0.46 in the year-ago period.

On a quarterly basis, the Q1-24 net profits dropped by 50.77% from SAR 122.99 million in Q4-23, while the revenues climbed by 1.48% from SAR 1.45 billion.

As of 31 December 2023, the Tadawul-listed firm logged net profits amounting to SAR 275.06 million, an annual leap of 120.52% from SAR 124.73 million.

Cash Dividends

BinDawood announced cash dividends valued at SAR 114.30 million for the second half (H2) of 2023.

The Saudi firm will grant a dividend of SAR 0.10 per share, representing 10% of the share nominal value, for 1.14 billion eligible shares.

Eligibility and distribution for the dividends will be on 26 May and 9 June 2024, respectively.

Last November, the company disbursed the same amount as cash dividends for H1-23.

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