Riyadh – Mubasher: United Wire Factories Company “Aslak” recorded a 26.67% decline in net profits in the third quarter of 2023, compared to the same quarter of 2022, and the Board of Directors decided to distribute cash dividends of one riyal per share.
The company’s results revealed on the Tadawul website today, Sunday, that net profit after zakat and tax declined to 2.2 million riyals, compared to 3 million riyals for the third quarter of last year.
The company explained that the reason for the decrease in net profit for the current quarter compared to the same quarter of the previous year is due to the decrease in sales volume and profit margins.
On a quarterly basis, the company’s profits declined by 60% compared to the previous quarter’s profits, which amounted to 5.5 million riyals.
The company’s profits fell to 12.1 million riyals in the first nine months of 2023, compared to 45.3 million riyals for the same period last year.
The company announced, in a separate statement, the Board of Directors’ decision to distribute cash dividends to shareholders for the second half of 2022, amounting to 28.08 million riyals.
The company noted that shareholders who own shares at the end of the vesting day, Sunday, November 12, 2023 AD, and who are registered in the company’s shareholder registry at the Securities Depository Center, have the right to trade at the end of the second trading day following the vesting date.
She indicated that dividends will be distributed to eligible shareholders on November 26, 2023.
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2023-11-05 07:55:04
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