Al -Majid’s profits for the Oud to 156.9 million riyals in 2024

Al -Majid’s profits for Oud in 2024 increased by 5.6% to 156.9 million riyals, compared to 149.7 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the rise in net profits during this year compared to the previous year is to geographical expansion, increase in the number of stores, launch new products, and increase on electronic store sales.
Yesterday, the Board of Directors of the General Assembly recommended the distribution of cash dividends for the fiscal year 2024 AD.
The total amount distributed is 100 million riyals, while the number of shares due for profits is 25 million shares.
The share share of the distribution is 4 riyals per share, while the distribution rate to the nominal share value is 40%.
The date of the eligibility of the profits will be for the company’s shareholders registered with the deposit center by the end of the second day of trading on the day of the company’s general assembly, and the date of the company’s general assembly meeting will be determined after obtaining regular approvals from the relevant government agencies.
She noted the determination of the date of payment of profits after the company’s general assembly approval of this recommendation.