Riyadh – Mubasher: The ordinary general meeting of Saudi Real Estate approved Sunday paying out cash dividends at 5% of capital, or SAR0.5 a share, totaling SAR60 million for the second half of 2015.
Shareholders of record till the date of the ordinary meeting would receive the dividends starting from 24 April 2016.
In the first half of 2015, the ordinary meeting agreed to distribute the same amount. Thus, the total payout reached 10% of capital, or SAR120 million.
The company operates with SAR1.2 billion, divided into 120 million shares at a par value of SAR10 each.
During 2015, the company’s net profits declined 46.6% year-over-year to SAR147.6 million from SAR276 million.
The stock closed Sunday 0.6 higher to SAR18.50.
