Saudi GESCO agrees to distribute more than $8 million to its shareholders

The Ordinary General Assembly of the National Gypsum Company “Saudi Gypsum” approved, in its meeting on Thursday, the recommendation of the Board of Directors regarding the distribution of cash dividends to shareholders for the year 2021, amounting to 31.67 million riyals ($8.44 million), at one riyal per share, according to a statement of the Saudi Stock Exchange today, Sunday. .

It is noteworthy that the eligibility for profits is for the shareholders who own shares at the end of trading on the day of the general assembly meeting and who are registered in the company’s shareholders’ register with the Securities Depository Center Company at the end of the second trading day following the due date.

Dividend distribution will start on June 9, 2022.

The general assembly also agreed to disburse 1.8 million riyals as a bonus to members of the board of directors for the year 2021, and to elect the company’s board of directors for the next term.

The net profit of the National Gypsum Company “Gypsco” decreased by 34.59% in 2021 to 20.8 million riyals, after zakat and tax, compared to about 31.8 million riyals in 2020, due to a decrease in net sales by 17.54% as a result of the accompanying variables in the market.

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