Riyadh – Mubasher: The shareholders of Savola Group have approved the board’s recommendation to distribute cash dividends at a total amount of SAR 400.5 million, which represents 7.5% of the capital, for 2020.
The company will pay SAR 0.75 per share to the entitled shareholders on 24 May.
Savola earlier achieved net profits of SAR 44.7 million during the fourth quarter of 2020, which came 67.4% lower on an annual basis.
Earlier this year, the Saudi group showed interest in acquiring a majority stake in food factories that generate high earnings, namely in the Egyptian market. The potential acquisitions have been under consideration.
