Al Majed Oud’s net profit nears SAR 157m in 2024; dividends recommended - Mubasher Info
ALMAJED OUD
4165 2.31% 133.00 3.00
Riyadh – Mubasher: Al Majed Oud Company recorded a 5.57% increase in net profit to SAR 156.95 million in 2024 from SAR 148.67 million a year earlier.
The revenues grew by 19.88% year-on-year (YoY) to SAR 926 million as of 31 December 2024, compared to SAR 772.45 million, according to the annual financial results.
The earnings per share (EPS) rose to SAR 6.28 in 2024 from SAR 5.95 in the previous year.
Cash Dividends
Meanwhile, the board of directors has proposed cash dividends of SAR 100 million, representing 40% of the company’s capital, for 2024.
Al Majed Oud will distribute a dividend of SAR 4 per share for 25 million eligible shares.
The eligibility and payment dates will be announced at a later time following the approval by the general assembly.
It is worth noting that during the first nine months (9M) of 2024, Al Majed Oud's net profit increased by 23.31% YoY to SAR 141.92 million from SAR 115.09 million in 9M-23.
The company generated revenue worth SAR 683.74 million, which increased by 25.50% YoY from SAR 544.79 million in 9M-23.
The earnings per share (EPS) rose to SAR 5.68 in the January-September 2024 period, compared to SAR 4.60 in the same period a year earlier.
Source: Mubasher Source: {{details.article.source}}