Riyadh – Mubasher: Qassim Cement Company witnessed a 55.28% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 130.51 million in 2022, compared to SAR 291.87 million.
The Tadawul-listed firm generated revenues worth SAR 678.45 million as of 31 December 2022, an annual drop of 6.13% from SAR 722.79 million, according to the annual financial results.
Earnings per share (EPS) retreated to SAR 1.45 last year from SAR 3.24 in 2021.
Dividends for Q4-22
The board of Qassim Cement recommended on 19 February 2023 the distribution of SAR 54 million as cash dividends over 90 million eligible shares for the fourth quarter (Q4) of 2022.
The Saudi firm would pay out SAR 0.60 per share, equivalent to 6% of the share nominal value.
Meanwhile, the eligibility and distribution dates for the Q4-22 dividends will be on 21 March and 5 April 2023, respectively.
Last December, Qassim Cement disbursed the same cash amount as dividends for Q3-22.
In the first half (H1) of 2022, the company’s net profits after Zakat and tax reached SAR 54.04 million, lower by 73.12% YoY than SAR 201.04 million.
