Najran Cement board declares dividend freeze for H2 2023

14/05/2024 Argaam
Logo ofNajran Cement Co.

Logo of Najran Cement Co.

Najran Cement Co.’s board of directors declared on May 13 not to distribute cash dividends for H2 2023, according to a statement to Tadawul.

 

The decision was made to support and strengthen the company's financial position in order to achieve its business growth strategy, the statement added.

 

According to data available on Argaam, the cement producer reported a decline of 38% in 2023 net profit to SAR 69.4 million from SAR 112.8 million a year earlier.

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