Riyadh – Mubasher: Southern Province Cement Company plans to disburse cash dividends amounting to SAR 49 million, representing 3.50% of the capital, for the first half (H1) of 2023.
The firm will pay out a dividend of SAR 0.35 per share for 140 million eligible shares, according to a bourse disclosure.
Eligibility and distribution dates for the dividends will be 3 and 17 September 2023, respectively.
In the January-June 2023 period, Southern Province Cement logged net profits after Zakat and tax valued at SAR 68 million, down 54.67% year-on-year (YoY) from SAR 150 million.
Revenues declined by 6.74% to SAR 526 million in H1-23 from SAR 564 million in H1-22, while the earnings per share (EPS) plummeted to EGP 0.49 from EGP 1.07.
During the second quarter (Q2) of 2023, the company posted 68.85% lower net profits after Zakat and tax at SAR 19 million, compared to SAR 61 million a year earlier.
The revenues decreased by 3.42% to SAR 226 million in April-June 2023, versus SAR 234 million during the same period in 2022.
On a quarterly basis, the Q2-23 net profits shrank by 61.22% from SAR 49 million in Q1-23, while the revenues dropped by 24.67% from SAR 300 million.
