Saudi: Amak to pay $15.29mln dividends for H2-23

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Riyadh – The board members of Al Masane Al Kobra Mining Company (Amak) greenlighted cash dividends worth SAR 57.48 million for the second half (H2) of 2023, according to a bourse filing.

A dividend of SAR 0.65 per share, equivalent to 6.50% of the share nominal value, will be granted to 88.43 million eligible shareholders.

The eligibility date will be 10 January 2024, while the distribution date will be announced at a later time.

In December 2023, Yahiya bin Mohammed Al Shangiti stepped down from his position as the CEO of Amak due to the expiration of his employment contract. As of 1 January 2024, the company appointed Christopher Gerard Warwick as its Acting CEO.

In the first nine months (9M) of 2023, the listed company generated net profits after Zakat and tax valued at SAR 48.64 million, an annual drop of 53.60% from SAR 104.82 million.