Riyadh – Mubasher: Saudi Arabia-based Qassim Cement Co. on Thursday said that its board of directors recommended distributing SAR 45 million in cash dividends for the fourth quarter of 2018 during a meeting held in the previous day.
Dividends will be distributed on Tuesday, 15 January 2019 at SAR 0.50 per share, representing 5% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).
Eligibility will be for shareholders registered in the group’s registry at the depository centre by the end of trading on 26 December.
The dividend distribution will be implemented by the National Commercial Bank (NCB) through direct transfer to the investors’ portfolio.
Qassim Cement last reported an 88.9% year-on-year profit drop in the third quarter of 2018, registering SAR 5.68 million, compared to SAR 51.24 million.
During the first nine months of 2018, Qassim Cement’s profit after calculating Zakat and Tax plunged 55.99% to SAR 81.24 million, compared to SAR 184.59 million in the prior-year period.
