Tabuk Cement shareholders OK 2026 interim dividends

Tabuk Cement Co. said its shareholders authorized the board of directors to distribute interim dividends on a semiannual or quarterly basis for the 2026 fiscal year. The approval came during the company's ordinary general assembly meeting held Sunday, according to a filing on the Saudi Exchange.

The authorization gives the board flexibility to pay dividends more frequently than the current annual schedule. Shareholders also ratified the board's recommendation to distribute SAR 0.50 per share for the second half of 2024, the filing showed.

Tabuk Cement reported net profit of SAR 107.7 million for 2024, up from SAR 83.1 million the prior year. Revenue rose to SAR 414.5 million from SAR 370.3 million. The company attributed the earnings growth to higher sales volumes and improved pricing in the northern region.

The dividend policy shift aligns Tabuk Cement with several Saudi-listed cement producers that have moved to more frequent payouts as earnings stabilize. The stock closed at SAR 12.16 on Sunday, giving it a dividend yield of roughly 4.1% based on the annualized SAR 0.50 per share rate.

Shareholders also approved the audit committee's report and appointed the external auditor for 2025, the filing said. No other resolutions were disclosed.