27.3% of the profits of “Pipes” increased to 168.18 million riyals in 2024

The Arab Pipe Company (tubes) achieved a net profit estimated at 168.18 million riyals in 2024, up 27.3% compared to 132.11 million riyals, in 2023.
According to the company’s statement on the circulation of Saudi Arabia, the increase in profit is due to an increase in the overall profit by 283.19 million riyals, equivalent to an increase of 19.35% during the fiscal year 2024 m, compared to 237.27 million riyals of the fiscal year 2023 m.
This came as a result of continuing to increase sales volume, which is mainly due to the effectiveness of production and supply during the fiscal year 2024.
Today, the Board of Directors of the Arab Pipeline Company recommended distributing cash dividends to shareholders for the year 2024 AD.
The total amount distributed is estimated at 22.5 million riyals, while the number of shares due for profits is 150 million shares.
The share share of the distribution is 0.15%, while the distribution rate to the nominal share value is 0.15%.
The date of the right will be for the shareholders who are owned by the shares on the next General Assembly and the registered in the company’s shareholders’ record at the Securities Depository Center at the end of the second trading day following the date of the General Assembly, which will be announced later after obtaining the regular approvals from the competent authorities.
She noted the announcement of the date of the distribution later after the approval of the distribution of profits from the General Assembly.
Yesterday, the Board of Directors of the Arab IV company decided to submit the recommendation to the unusual general assembly of the company to increase the capital by forming part of the remaining profits by granting an share per 3 shares.
The capital before the increase is 150 million riyals, while the increase is 200 million riyals, an increase of 33%.
The number of shares before the increase is estimated at 150,000,000, while it is after the increase of 200,000.
The company aims to increase the capital strengthening the company’s capital base, which contributes to enhancing future growth plans.
It noted only 50,000,000 riyals of the remaining profits.
The right to shareholders who owned shares will be the day of entitlement to the registration of the source shareholders at the deposit center at the end of the second trading day that follows the date of entitlement.
In the event of stock fractures, fractures will be collected in one portfolio for all shares campaign and are sold at the market price, then their value is distributed to the shares of the entitled shares of the grant each according to its share within a period not exceeding 30 days from the date of determining the new shares due for each shareholder.