Riyadh – Mubasher: The net profit of Saudi Tadawul Group Holding Company grew by 59.40% year-on-year (YoY) to SAR 621.80 million ($165.80 million) in 2024, compared with SAR 390.10 million in 2023.
The revenues hit SAR 1.44 billion ($385.70 million) as of 31 December 2024, marking a 34.84% increase from SAR 1.07 billion in 2023, according to the financial results.
The earnings per share (EPS) soared by 59.40% YoY to SAR 5.18 ($1.38) in 2024, versus SAR 3.25.
The CEO of Saudi Tadawul Group, Khalid Al Hussan, said: “Our strategic focus on diversification and innovation drove growth, expanded our range of financial products, and significantly enhanced our post-trade infrastructure.”
Al Hussan noted: “Diversification remained central to our strategy and was underscored by our acquisition of a 32.60% strategic stake in Gulf Mercantile Exchange, positioning us to capitalize on the Middle East’s geographical advantages as a central hub for commodity markets.”
The CEO added: “Our commitment to enhancing market insights and investor decision-making was highlighted by announcing the acquisition by Tadawul Advanced Solutions Company (WAMID) of 49% stake of the remaining shares in Direct Financial Network Company (DirectFN Limited), significantly boosting our ability to offer innovative data solutions and advanced analytics, thus empowering investors with enhanced tools for making informed decisions.”
Al Hussan concluded by mentioning plans for the coming period, saying: “Moving forward, our priorities are set on expanding our pool of regional and international investors, introducing cutting-edge financial instruments, fostering partnerships, and fully integrating sustainability into all aspects of our operations.”
Cash Dividends for 2024
The board members of Saudi Tadawul Group proposed cash dividends worth SAR 402 million, representing 33.50% of the capital, for 2024.
The total amount of dividends will be distributed for 120 million eligible shares, marking a payout of SAR 3.35 per share.
Meanwhile, Saudi Tadawul Group stated it will announce the eligibility and distribution dates for the cash dividends at a later time, upon the general assembly meeting.
In the first nine months (9M) of 2024, the listed entity generated net profits worth SAR 505.70 million and operating revenues of SAR 1.10 billion.
Meanwhile, on the sidelines of the Capital Markets Forum (CMF) that concluded on 19 February 2025, Saudi Tadawul Group unveiled the Capital Management System (CMS).
