The profits of “influence” increased 21% to 51.6 million riyals in 2024

The net profit of the Food Products Company in 2024 increased by 21% to 51.6 million riyals, compared to 42.6 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the company recorded an increase in the overall profit by 23.69% to 226,308,479 riyals compared to 182,971,239 riyals in the previous year, an increase of 43,337,240 riyals.
This improvement is due to increased revenues, enhancing operational efficiency in production facilities, and achieving savings in the cost of raw materials, which reflected positively on financial performance.
The reasons included: the company’s net profit increased after zakat and tax by 21.01% to 51,636,185 riyals, compared to 42,670,755 riyals in the previous year, an increase of 8,965,430 riyals.
This growth is due to the high revenues, improving resource exploitation, and taking advantage of reducing the costs of raw materials, which contributed to improving profit margins.
Yesterday, the Board of Directors of Nafal Food Products Company recommended distributing cash dividends to shareholders for the fiscal year 2024 AD.
The total amount is 11,908,359 riyals, while the number of shares due for profits is 47,633,436 shares.
The share share of the distribution is 25 halalas per share, while the distribution rate to the nominal share value is 25%.
The dividend distributions will be for the shareholders owned by the company’s shares at the end of the day specified for the entitlement on the day of the company’s general assembly (which will be announced later), and those who are registered in the company’s shareholders ’registry at the Securities Depository Center Company (deposit), while the date of the distribution will be announced later.
Yesterday, the Board of Directors of Nafal Food Products Company decided to recommend to the extraordinary general assembly to increase the company’s capital by granting free shares to the company’s shareholders, through a fee of 48,000,000 riyals from the profits, by granting one share for each owned share.
The capital before the increase is 48 million riyals, and after the increase of 96 million riyals, while the number of shares before the increase is 48 million shares, and after the increase of 96 million shares.
According to the company, this increase aims to enhance the financial solvency of the company, support its expansion plans, and maximize the return on shareholders by developing its business and seizing the opportunities available in the food sector.
The number of shares granted to each share is one share for each owned share.
The entitlement to shareholders who owned shares and those in the company’s shareholders will be at the Securities Depository Center (Deposit) at the end of the second trading day that follows the day of the extraordinary general assembly, which will be announced the date of its convening later.
In the event of stock fractures, they will be assembled in one portfolio for all shares campaign, sold at the market price, then distributing their value to the shareholders due to the grant each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
This grant is subject to the approval of the official authorities and the extraordinary general assembly to increase the capital and the number of shares granted.