Saudi: Hail Cement unveils Q2-23 dividends, financials for H1-23

Saudi: Hail Cement unveils Q2-23 dividends, financials for H1-23

Riyadh – The board of Hail Cement decided to pay out cash dividends amounting to SAR 35.67 million for the second quarter (Q2) of 2023, according to a bourse filing.

The Saudi firm will disburse a dividend of SAR 0.37 per share, equivalent to 3.70% of the share nominal value, for 96.40 eligible shares.

Eligibility and distribution dates for the Q2-23 dividends will be 10 and 26 September 2023, respectively.

In the first half (H1) of 2023, Hail Cement shifted to net profits after Zakat and tax valued at SAR 24.48 million, compared to net losses of SAR 13.72 million during the same period a year earlier.

Revenues plummeted by 26.25% year-on-year (YoY ) to SAR 121.63 million in H1-23 from SAR 164.93 million.

The earnings per share (EPS) hit SAR 0.25 as of 30 June 2023, against a loss per share of SAR 0.14 in H1-22.

During the first three months (3M) of 2023, the company also turned profitable at SAR 5.97 million, versus net losses after Zakat and tax worth SAR 6.82 million in the year-ago period.

The revenues reached SAR 59.78 million during April-June 2023, lower by 37.93% YoY than SAR 96.31 million.

On a quarterly basis, the Q2-23 profits dropped by 67.72% from SAR