Saudi: EIC to disburse 15% of capital as dividends for H1-23

Riyadh – The board of Electrical Industries Company (EIC) decided to pay out cash dividends amounting to SAR 84.37 million for the first half (H1) of 2023.

A dividend of SAR 1.50 per share will be granted to 56.25 million eligible shares, according to a bourse disclosure.

Eligibility and disbursement dates for the dividends, which equal 15% of the company’s capital, will be 7 and 21 September 2023, respectively.

In the January-June 2023 period, the listed firm logged net profits after Zakat and tax worth SAR 85.14 million, higher by 177.22% than SAR 30.71 million a year earlier.

Revenues enlarged by 65.56% to SAR 754.84 million in H1-23 from SAR 455.93 million in H1-22, while the earnings per share (EPS) grew to EGP 1.53 from EGP 0.55.

Earlier this month, EIC’s unit Saudi Power Transformers Company inked a SAR 20.57 million deal with AL Toukhi Company.

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