The board members of Al Hammadi Holding decided to pay out SAR 56 million as cash dividends for the second quarter (Q2) of 2023.

The Saudi firm will disburse SAR 0.35 per share for 160 million eligible shares, according to a bourse disclosure.

Eligibility and distribution dates for the dividends will be 2 and 12 July 2023, respectively.

The company’s board approved the dividends, which represent 3.50% of the company’s capital, during its meeting on 19 June.

In the January-March 2023 period, Al Hammadi Holding achieved net profits after Zakat and tax amounting to SAR 81.42 million, up 31.41% year-on-year (YoY) from SAR 61.96 million.

Revenues increased by 19.02% to SAR 298.60 million in Q1-23 from SAR 250.89 million in Q1-22, while the earnings per share (EPS) climbed to SAR 0.51 from SAR 0.39.