Riyadh – Mubasher: Jazan Development Co.’s (Jazadco) board recommended the distribution of cash dividends for 2016 total SAR 25 million.
The cash dividends will represent 5% of capital, or SAR 0.5 a share, according to a bourse filing on Sunday.
Shareholders of record at the end of the general assembly's meeting are eligible for the dividends.
Jazadco's net profits fell 10.4% year-on-year to SAR 6.49 million in the third quarter of 2016 from SAR 7.24 million.
The Saudi-listed company’s net profits added 4.43% to SAR 11.34 million in the first nine months of 2016 from SAR 10.84 million in the year-ago period.
