GASCO unveils $20mln cash dividends for H1-23

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The board of National Gas and Industrialization Company (GASCO) decided to pay out SAR 75 million, equivalent to 10% of the capital, as cash dividends for the first half (H1) of 2023.

GASCO will grant SAR 1 per share for 75 million eligible shares, according to a bourse disclosure.

Eligibility and distribution dates for the announced dividends will be 5 and 19 July 2023, respectively.

The board members greenlighted the H1-23 dividends during their meeting that was held on 20 June.

In the first quarter (Q1) of 2023, the Saudi firm’s net profits after Zakat and tax stood at SAR 73 million, unchanged from Q1-22.

Revenues increased by 18.89% to SAR 614.90 million in Q1-23 from SAR 517.20 million in Q1-22, while the earnings per share (EPS) maintained its value at SAR 0.97.

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