Riyadh – Mubasher: AlTayyar Travel Group Holding’s board has approved a cash dividend from retained earnings for the first half of 2017 at SAR 0.5 per share, representing 5% of the share’s nominal value.
The total value of the distribution amounts to SAR 104.83 million, Al Tayyar said in a filing to the Saudi Stock Exchange (Tadawul) on Sunday.
Distributions will begin on Thursday, 24 August, via the Saudi British Bank (SABB).
Shareholders listed in the company’s registry by the end of trading on 18 August and registered with the Securities Depository Centre (SDC) by the end of the second day of trading following the maturity date will be entitled to the distributions.
Last week, AlTayyar logged SAR 212 million ($56.54 million) in profits in the second quarter of 2017, down 28.62% year-on-year from SAR 297 million ($79.21 million) in the year-ago period.
Between January and June, the Tadawul-listed firm’s profits fell 28.5% to SAR 349 million versus SAR 488 million in H1-16.
In May, Al Tayyar’s board decided to distribute half-annual cash dividends from retained earnings at SAR 0.5 per share or SAR 1 per share for the full year.
Al Tayyar’s last dividend distribution was in September 2014 for the first half of that year, at a total value of SAR 300 million.
