The Saudi Aqariya Real Estate Company posted 27.8 million Saudi riyals (seven million dollars) in profits for the first quarter of 2002, compared with the first quarter figure of SR 18.3 million in 2001, reported Al-Watan. The company’s total investments reached SR 356 million during the same period, up from SR 220 million in the previous year.
Aqariya’s Board of Directors have recommended the distribution of SR 72 million in dividends to stockholders for last year, a 33 percent increase compared with last year’s share. The dividends include a six riyal earning per stock, equivalent to 12 percent of the stock’s book value. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
