Riyadh – Mubasher: The National Shipping Company of Saudi Arabia’s (Bahri) on Tuesday said that its board of directors had recommended the distribution of SAR 590.6 million cash dividends, or SAR 1.5 per share, for the fiscal year of 2018 during a meeting held the previous day.
Dividends represent 15% of Bahri’s capital, which amounts to SAR 3.94 billion, according to a statement to the Saudi Stock Exchange (Tadawul).
Dividends will be only for the shareholders who are registered in Tadawul at the end of the second trading day following the shareholders’ meeting, while the distribution date will be specified later.
Bahri last reported a 34.3% year-on-year increase in profits during the third quarter of the year after taxes and zakat, logging SAR 81.28 million, compared with SAR 60.51 million for the same period last year.
Profits levelled down 34.29% year-on-year to SAR 389.83 million during the first nine months of the year, compared with SAR 593.28 million.
Bahri’s stock decreased 2.37% to close Monday’s trading session at SAR 32.95.
