The net profit of Riyadh Cement Company last year decreased by 11.18%, to record 189.8 million riyals, compared to a net profit of 213.7 million riyals in 2021.
The company said in a statement on “Saudi Tadawul” that the decline in net profits, after zakat and tax, is due to a decrease in sales despite the decrease in general and administrative expenses and the decrease in the provision for zakat expense.
The company’s revenues fell last year by 10.89%, to record 598 million riyals, compared to 617.06 million riyals in 2021.
Last December, the Board of Directors of Riyadh Cement Company, based on the powers vested in it, and after reviewing the company’s financial position and the expected retained earnings until the end of the year 2022, recommended the distribution of cash dividends to the company’s shareholders for the second half of the fiscal year 2022, at a value of 90 million riyals for the number of dividend-bearing shares. 120 million shares.
Riyadh Cement said in a statement on “Saudi Tadawul – at that time – that the share of the share from the distribution is 0.75 riyals, with a distribution ratio to the nominal share value of 7.5%.