Riyadh – Mubasher: Retal Urban Development Company reported a 17.66% year-on-year (YoY) decline in net profit to SAR 202.35 million in 2023 from SAR 245.74 million a year earlier.
On the other hand, revenues surged 23.52% YoY to SAR 1.36 billion last year from SAR 1.10 billion in 2022, according to the annual financial results.
The earnings per share (EPS) reached SAR 0.4 in 2023, down from SAR 0.49 the year before.
Cash Dividends
Retail Urban Development’s board of directors approved the disbursement of SAR 80 million in cash dividends for the second half (H2) of 2023.
Each of the 500 million eligible shares will receive a dividend of SAR 0.16, representing 16% of the stock’s par value.
The eligibility date shall be at the end of trading day 05 May 2024 for the shareholders registered in the depository Center (Edaa) at the end of the second trading day following the eligibility date. The distribution date will be on 16 May.
It is worth noting that Retal Urban Development recorded a 20.32% YoY decline in net profit to SAR 145.98 million in the first nine months (9M) of 2023, versus SAR 183.20 million.
