Yanbu Cement building
Yanbu Cement Co.’s board of directors recommended today, March 24, withholding dividends for H2 2023, the company said in a statement to Tadawul.
The dividend freeze is seen to boost the cement producer’s financial position, the statement added.
The company paid a cash dividend at 15%, or SAR 1.5 a share, for H1 2023.
Yanbu Cement reported a net profit of SAR 119.9 million for 2023, a decline of 44% from SAR 215.4 million a year earlier, Argaam reported.
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