Riyadh – Mubasher: The net profits of Saudi Tadawul Group Holding Company declined by 8.12% to SAR 390.10 million in 2023 from SAR 424.60 million a year earlier.
The group witnessed 1.60% year-on-year (YoY) lower revenues at SAR 1.07 billion as of 31 December 2023, versus SAR 1.09 billion, according to the annual financial results.
Earnings per share (EPS) hit SAR 3.25 last year, compared to SAR 3.54 in 2022.
Khalid Al Hussan, CEO of Saudi Tadawul Group, commented: “Through expanding into new markets and maintaining enhancing our suite of products and services, we continued to cement our position as a global investment hub.”
“We have fostered strategic partnerships and empowered our team to drive innovation across every facet of our business,” Al Hussan continued.
He elaborated: “This translated into another year of our outstanding operational and financial performance, as we successfully leveraged the continued diversification of our portfolio to attract both local and international investors.
Dividends
The company’s board members recommended, on 9 March 2024, cash dividends valued at SAR 276 million, representing 23% of the capital, for 2023.
Saudi Tadawul Group will pay out a dividend of SAR 2.30 per share to 120 million eligible shareholders.
Meanwhile, the distribution date will be announced at a later time.
At the end of September 2023, the net profits after Zakat and tax reached SAR 298.30 million, down 18.81% YoY from SAR 367.40 million.
