RIYADH: Najran Cement is to pay out a cash dividend of SR127.5 million ($34 million) for 170 million shares to shareholders for the second half of the fiscal year 2020, with a dividend per share of SR0.75.
The company made the disclosure in a filing to the Saudi Stock Exchange (Tadawul).
The date of the cash dividend, with a distribution ratio of 7.5 percent to the share's nominal value, will be announced later.
Najran Cement told its non-resident foreign investors that the cash dividend distribution is subject to withholding tax of 5 percent.
Najran said that the eligibility of cash dividend will be to shareholders who own company shares at the end of the day of the general assembly and enrolled in the company's register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the day of the general assembly.
Najran Cement annual profits increased by more than 280 percent to SR204 million, as a result of an increase in sales and a decrease in the cost of sales.
