The shares of Al -Rashid Company for Industry and trading in the Saudi market “Tadawul” increased by 6.11% during Sunday trading to trade at the price of 53 riyals per share, after announcing the annual financial statements.
The trading on the shares of Al -Rashid Industry Company at that time came through 10.84 thousand shares with a value of trading 555.28 thousand riyals.
The highest price per share was at that time at 54.70 riyals per share, while the lowest price per share was at 50 riyals per share.
The price of the shares of Al -Rashid Industry Company came after announcing its annual financial results for the year 2024, as the company recorded an increase in the net profit by 56.5%.
The company reported that the net profit amounted to about 34.89 million riyals after zakat and tax, compared to profits of 22.3 million riyals in the year 2023.
The company explained that the reason behind the high net profit this year is due to the growth of sales and improving the efficiency of operational operations.
Sales/revenues also increased by 13.11%, reaching about 152.74 million riyals, compared to 135.03 million riyals in 2023. This growth is due to the diversification of products and the opening of new markets, in addition to improving the efficiency of operational operations.
In another statement, the Board of Directors recommended on March 22, 2025 to distribute cash dividends to shareholders for the fiscal year ending on December 31, 2024, by 12.5%, equivalent to 1.25 riyals per share.
The total amount distributed is about 10 million riyals, which will be distributed to 8 million shares.
The company explained that the right to distribute profits will be for the shareholders who are owned by shares at the end of the day of the circulation of the association’s history, and the registered in the company’s shareholders’ record at the Securities Deposit Center Company (deposit) at the end of the second day of trading after the date of the General Assembly, which will be announced later.
