Almodawat eyes 70% of capital as cash dividends for 2023

Almodawat eyes 70% of capital as cash dividends for 2023



Riyadh – Mubasher: Almodawat Specialized Medical Company announced the board’s recommendation to pay cash dividends amounting to SAR 16.62 million for 2023.

The Saudi firm will distribute a cash dividend of SAR 7 for 2.37 million eligible shareholders, according to a bourse filing.

The board members proposed the annual dividends, which represent 70% of the share nominal value, on 31 March 2024.

Meanwhile, the payment date will be unveiled at a later time.

Financials

In the 12-month period that ended on 31 December 2023, Almodawat recorded 80.28% year-on-year (YoY) higher net profits at SAR 18.59 million, compared to SAR 10.31 million.

Revenues jumped by 26.88% to SAR 74.30 million last year from SAR 58.56 million in 2022, while the earnings per share increased to SAR 9.79 from SAR 5.43.

It is worth highlighting that the company began trading its shares on Nomu last February.

Almodawat eyes 70% of capital as cash dividends for 2023