By Mohammed Abu Meleeh
Riyadh-Mubasher: Jarir Marketing Co. will maintain its dividend payout for the fourth quarter of 2015 at the previous levels, said Chairman Mohammed Al-Agil.
The company's dividends ranged between 14.6-22.5% of the stock's par value reaching SAR 10 during the last four quarters.
Al-Agil told Mubasher that his company will continue with its expansion plan, through opening five new showrooms in 2016 to achieve robust growth rates.
In 2015, the Saudi retailer opened five showrooms, bringing the total number of showrooms to 40 at the year-end.
The Chairman added that the decision allowing full foreign ownership will slightly impact the company, expecting the sector to record strong growth rates over the next period.
Jarir recorded net earnings of SAR 208 million during the fourth quarter of 2015, a fall of 4.7% from SAR 206 million in the year-ago period.
Full-year net earnings increased 11% year-on-year from SAR 745 million
Translated by Abdul Maguid Aboshahla
