Mubasher: The board members of Alandalus Property Co recommended distributing 10% of the capital as a cash dividend for fiscal year 2018, according to a bourse statement on Wednesday.
Alandalus Property will pay SAR 1 per share to the entitled shareholders for FY18 at a total value of SAR 70 million, of which SAR 35 million will be distributed as a dividend for FY18, while the other SAR 35 million will be paid as an income from an initial public offering (IPO) of 32.27% for the property fund, AlAhli REIT Fund (1).
During FY18, Alandalus disclosed that profits declined by 59.5% to SAR 47.97 million in FY18.
