Riyadh: The net profits after Zakat and tax of Savola Group hiked by 234.75% year-on-year (YoY) to SAR 742.80 million in 2022, compared to SAR 221.90 million.
The Saudi firm witnessed revenue worth SAR 28.05 billion during January-December 2022, higher by 13.72% than SAR 24.66 billion a year earlier, according to annual financial results.
Earnings per share (EPS) jumped to SAR 1.39 last year from SAR 0.42 in 2021.
The board of Savola Group recommended, on 27 March 2023, the distribution of SAR 352.40 million as cash dividends for 2022.
The company would pay out SAR 0.66 per share for 533.98 million eligible shares. The proposed dividends equal 6.60% of the share nominal value.
Meanwhile, the payment date for the dividends will be disclosed at a later time.
In the first nine months (9M) of 2022, the group recorded a 36.14% YoY surge in net profit after Zakat and tax to SAR 648.30 million from SAR 476.20 million.
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