SADAFCO board proposes $0.8 dividend per share for first half of FY

SADAFCO board proposes $0.8 dividend per share for first half of FY
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Updated 04 January 2022
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SADAFCO board proposes $0.8 dividend per share for first half of FY

SADAFCO board proposes $0.8 dividend per share for first half of FY

RIYADH: Saudi Dairy and Foodstuff Co.’s, or SADAFCO, board has recommended cash dividends at SR3 ($0.8) per share for the first half of the fiscal year ended Mar. 31, 2022.

A total of SR96 million will go towards dividend payouts, with around 32 million eligible shares, the company announced in a bourse filing on Tuesday.

This would bring the trailing-twelve-months dividend yield to 3.65 percent, based on a share price of SR165.

Entitled shareholders are to receive the payment on Jan. 25, 2022.

SADAFCO’s payout hasn’t changed from the same period a year earlier. The annual dividend per share last year amounted to SR6 per share.

In 2021, the company’s share price saw very minor fluctuations, exiting the year around 6 percent lower. The stock remained flat today, closing at SR165.

Jeddah-based SADAFCO operates sales and distribution depots in 24 locations across Saudi Arabia, Bahrain, Qatar, Jordan, and Kuwait. Its products are also exported to several countries in the MENA region.