Riyadh – Mubasher: Saudi Advanced Industries Co.’s (SAIC) board of directors recommended distributing SAR 12.5 million ($3.33 million) cash dividends at SAR 0.25 per share for the first nine months of 2018.
Dividends represent 2.5% of the share’s par value, with payouts to begin in Q1-19, SAIC said in a statement on Sunday to the Saudi Stock Exchange (Tadawul) on Sunday.
Entitlement will be for shareholders registered in Tadawul's Securities Depository at the end of trading day on Thursday, 28 February 2019.
SAIC last reported a 24.75% year-on-year growth in its net profits after calculating Zakat and Tax during the third quarter of 2018, registering SAR 12.25 million, from SAR 9.82 million, while for the nine-month period, net profits grew 49.4% to SAR 31.05 million, from SAR 20.78 million.
By 1:32 pm Saudi time Saudi time, SAIC’s stock increased 2.86% to SAR 12.96.
