The “Food Gate” profit increased to 8.7 million riyals in 2024

The net profit of the food portal company in 2024 increased by 3.6% to 8.7 million riyals, compared to 8.4 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, this rise is due to the growth of the company’s branches sales, as well as the improvement of operational cost management.
The Board of Directors of the Commercial Food Gate Company recommended yesterday its meeting, distributing cash dividends to the company’s shareholders for the year 2024 AD.
The company said: The total amount distributed 2.1 million riyals, while the number of shares due for profits is 2.1 million shares.
The share share of the distribution is 1 riyals, while the distribution rate to the nominal share value is 10%.
The date of the right will be the right of profits for the shareholders owners of shares at the end of the day of the company’s general assembly and the registered in the company’s shareholders ’registry with the Securities Depository Center Company (the deposit center) at the end of the second trading day that follows the date of the company’s general assembly, which will be determined later, while the date of the distribution will be announced later.
The Board of Directors of the Commercial Food Gate Company recommended an increase in the company’s capital by granting shares.
According to the company, the capital is estimated before the increase of 2.1 million riyals, while after the increase is 3.150 million riyals, while the number of shares before the increase is 2.1 million shares, and after the increase of 3.150 million shares.
The percentage of capital increase is 50%, while the company aims to increase capital to finance expansion in its operational and investment projects, which enhances its ability to achieve its strategic goals and raise the efficiency of its business to ensure sustainable growth and achieve added value for shareholders.
The number of shares granted to each shares is for each shares owned, while Al -Rashka mentioned only 10.5 million riyals of the remaining profits.
The date of the right to shareholders who ownership of shares will be the day of the entitlements registered in the source of the source shareholders at the deposit center at the end of the second trading day following the date of the 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 shares due for each shareholder.
The grant is considered conditional on the approval of the official authorities and the unusual general assembly to increase the capital and the number of shares granted.
The Board of Directors of the Food Gate Company recommended to the extraordinary general assembly to agree to transfer the company’s regular reserve balance, which amounted to (4,942,361) riyals, according to the annual financial statements ending on 12/12/2024 AD, to the balance of profits.