Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) announced the board’s recommendation to disburse cash dividends of SAR 738.28 million for 2024.
Bahri will pay out a dividend of SAR 1 per share for 738.28 million eligible shares, according to a bourse disclosure.
The board members proposed the amount of the dividend, equivalent to 10% of the share capital, on 18 March.
Capital Hike
The board members recommended increasing the capital by 25% to SAR 9.22 billion from SAR 7.38 billion.
Bahri will grant one bonus share for every four owned shares to strengthen its capital base and support growth and expansion plans.
Following the SAR 1.84 billion capital hike, the new capital will be distributed over 922.85 million shares, instead of 738.28 million shares.
In the 12-month period that ended on 31 December 2024, Bahri’s net profits hiked by 34.45% year-on-year (YoY) to SAR 2.16 billion from SAR 1.61 billion.
