Saudi: Yanbu Cement to disburse 15% of capital as cash dividends for H1-23

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Riyadh – The board of Yanbu Cement Company decided to pay a dividend of SAR 1.50 per share for the first half (H1) of 2023, according to a bourse filing.

The firm will disburse a total of SAR 236.25 million, equivalent to 15% of the capital, for 157.50 million eligible shares.

Meanwhile, the eligibility and distribution dates for the cash dividends will be 31 May and 20 June 2023, respectively.

It is worth noting that the company’s board members approved the H1-23 dividends during their meeting that was held on 28 May.

In the first quarter (Q1) of 2023, Yanbu Cement logged net profits after Zakat and tax valued at SAR 51.01 million, making a 31.03% year-on-year (YoY) jump from SAR 38.93 million.

Revenues declined by 7.29% to SAR 224.01 million in Q1-23 from SAR 241.63 million in Q1-22, while the earnings per share (EPS) went up to SAR 0.32 from SAR 0.25.