The board of Saudi Automotive Services Company (SASCO) decided to distribute cash dividends worth SAR 30 million, representing 5% of the capital, for the third quarter (Q3) of 2022.

SASCO will disburse SAR 0.50 per share for 60 million eligible shares, according to a bourse disclosure.

Meanwhile, the eligibility date for the cash dividends will be on 25 December, while the distribution date will be announced at a later time.

In the first nine months (9M) of 2022, the Tadawul-listed firm posted net profits after Zakat and tax worth SAR 61.24 million, a hike of 72.51% from SAR 35.50 million during the January-September 2021 period.

The revenues enlarged by 95.92% to SAR 5.57 billion in 9M-22 from SAR 2.84 billion, whereas the earnings per share (EPS) increased to SAR 1.02 from SAR 0.59.