Mubasher: The board of Americana Restaurants International recommended on 22 February 2023 cash dividends worth $103.46 million (SAR 388.01 million) for the second half (H2) of 2022.
The group would pay out a dividend of $0.01 (SAR 0.04), representing 61.40% of the share nominal value, according to a bourse filing.
Meanwhile, the dividends proposal is still subject to the approval of the shareholders at their annual general meeting (AGM), which is yet to be announced.
In 2022, Americana Restaurants, listed on the Abu Dhabi Securities Exchange (ADX) as well, witnessed a 27.10% year-on-year (YoY) jump in net profit attributable to the shareholders to $259.22 million (SAR 972.09 million).
Mohamed Ali Rashed Alabbar, Chairman of Americana Restaurants, commented: “Americana Restaurants elevated its global presence as a publicly listed company, in readiness for its next chapter as one of the most profitable, growth-oriented, and diversified [food and beverage] F&B operators."
"The MENA region remains uniquely attractive for out-of-home dining, with strong macroeconomic tailwinds, a growing youth population, and soaring urbanisation," Alabbar highlighted.
He concluded: "These dynamics, coupled with the cultural internationalism of our target markets, provides our business with a springboard for growth across MENA and Kazakhstan."
It is noteworthy to mention that the restaurant operator started the listing and trading of its shares on the Saudi Exchange (Tadawul) and ADX on 12 December 2022.
