Modern Mills BOD Recommends 100% Cash Dividend for 2024

Modern Mills for Food Products Co. announced on Tuesday the Board of Directors’ recommendation to distribute annual dividends for the fiscal year 2024, with a total distributed amount of SAR 81.8 million, with the share of the distribution being SAR 1, and the distribution ratio to the nominal value of the share being 100%.

The Company stated that the number of shares entitled to dividends is 81.8 million shares, and the distribution date will be determined later after the approval of the General Assembly.

The eligibility of dividend distributions will be for the Shareholders who own the Company’s shares at the end of the specified due date, which is the day of the Company’s General Assembly (which will be announced later), and who are registered in the Company’s shareholders’ register with the Securities Depository Centre Company (Edaa) at the end of the second trading day following the Assembly.

The Company previously distributed Net cash dividends of SAR 81 million for the first half of fiscal year 2024 to shareholders registered with the Depository Centre at the end of the second trading day following the due date, which is August 04, 2024, at SAR 1 per share. Accordingly, the total net profits announced for the fiscal year ending Dec. 31, 2024 amounted to SAR 163 million, at SAR 2 per share.