Nofoth announces 2023 dividend recommendation

Nofoth announces 2023 dividend recommendation

Riyadh – Mubasher: The board of Nofoth Food Products Company proposed a cash dividend worth SAR 0.20 per share for 2023. During its 7 May 2024 meeting, the board recommended paying 20% of the SAR 48 million capital as dividends for last year, according to a bourse filing. Nofoth will disburse SAR 9.60 million for 48 million eligible shares, upon the approval of the general assembly, after which, the eligibility and distribution dates will be set. In 2023, the listed company achieved net profits of SAR 42.67 million, a 35.52% increase from SAR 31.48 million in 2022. The revenues also grew by 14.06% to SAR 308.19 million compared with SAR 270.19 million. The earnings per share (EPS) went up to SAR 1.78 in 2023 from SAR 1.31 in 2022. In October 2023, Nofoth received the regulatory nod for increasing its capital by SAR 24 million.

Nofoth announces 2023 dividend recommendation