Riyadh – Mubasher: Southern Province Cement Company recorded a 29.84% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 301 million in 2022, compared to SAR 429 million.
The company’s revenues declined by 8.74% to SAR 1.22 billion last year, versus SAR 1.33 billion in 2021, according to the income statements.
Earnings per share (EPS) plummeted to SAR 2.15 during the January-December 2022 period from SAR 3.07 in 2021.
Dividends
The board members recommended, on 27 March 2023, cash dividends worth SAR 70 million for 2022.
The Saudi firm will grant SAR 0.50 per share, representing 5% of the share nominal value, for 140 million eligible shares.
Meanwhile, the distribution date will be announced at a later time.
In the first nine months (9M) of 2022, Southern Province Cement registered net profits after Zakat and tax worth SAR 238 million, an annual plunge of 28.10% from SAR 331 million.
