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Al-Manjam food company approves distribution of cash dividends valued at USD32M
(MENAFN) The board of directors of Al-Manjam Food Company, a prominent Saudi firm, has approved the distribution of cash dividends to shareholders for the second half of fiscal year 2024. The total dividends amount to 120 million riyals (USD32 million), as disclosed on the Saudi Stock Exchange (Tadawul) website. This payout corresponds to 60 million shares, with shareholders receiving 2 riyals per share, equating to 20 percent of the company’s capital.
As per the announcement, the eligibility for dividends will be based on shareholders owning shares at the close of trading on Sunday, December 8, 2024. The company plans to distribute the dividends on December 18, ensuring timely payments to its investors. This decision reflects Al-Manjam’s commitment to rewarding its shareholders while maintaining steady financial performance.
Al-Manjam Food Company has reported robust financial growth in 2024. During the first nine months of the year, the company's profits increased by 9 percent, reaching 218.3 million riyals, compared to the same period last year. Additionally, revenues experienced a modest rise of 1.7 percent, amounting to 2.5 billion riyals. These figures highlight the company's resilience and operational efficiency in a competitive market.
The dividend distribution and strong financial results underline Al-Manjam’s solid market position and its focus on creating value for shareholders. The company continues to pursue growth opportunities while maintaining a balanced approach to profitability and investor returns.
As per the announcement, the eligibility for dividends will be based on shareholders owning shares at the close of trading on Sunday, December 8, 2024. The company plans to distribute the dividends on December 18, ensuring timely payments to its investors. This decision reflects Al-Manjam’s commitment to rewarding its shareholders while maintaining steady financial performance.
Al-Manjam Food Company has reported robust financial growth in 2024. During the first nine months of the year, the company's profits increased by 9 percent, reaching 218.3 million riyals, compared to the same period last year. Additionally, revenues experienced a modest rise of 1.7 percent, amounting to 2.5 billion riyals. These figures highlight the company's resilience and operational efficiency in a competitive market.
The dividend distribution and strong financial results underline Al-Manjam’s solid market position and its focus on creating value for shareholders. The company continues to pursue growth opportunities while maintaining a balanced approach to profitability and investor returns.
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