Saudi: Amak unveils dividends worth nearly $17.33mln for H1-23

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Riyadh – The board of Almasane Alkobra Mining Company (Amak) decided to disburse cash dividends worth SAR 64.79 million for the first half (H1) of 2023, according to a bourse disclosure.

The firm will pay out SAR 1 per share, equivalent to 10% of the share nominal value, for 64.79 million eligible shares.

The eligibility date for the cash dividends will be 5 June 2023, while the distribution date announced at a later time.

It is worth highlighting that the company’s board members greenlighted the H1-23 dividends during their meeting on 30 May.

In the first quarter (Q1) of 2023, Amak logged net profits after Zakat and tax valued at SAR 32.86 million, an annual drop of 21.39% from SAR 41.81 million.

Revenues declined by 9.47% to SAR 143.02 million in Q1-23 from SAR 157.99 million in Q1-22, whereas the earnings per share (EPS) shrank to SAR 0.50 from SAR 0.75.