Nass declares 20pc cash dividend
Manama, March 17, 2010
Nass Corporation shareholders will get a cash dividend of 20 per cent for last year.
The announcement was made during the company's annual ordinary general meeting held at Sheraton Bahrain Hotel yesterday.
The company will pay 20 per cent cash dividend on paid-up capital amounting to BD4.302 million ($11.4 million) on its 215.077 million shares (excludes treasury shares of 4.923 million), said the company's deputy chairman and managing director Sameer Abdulla Nass.
He said that the company achieved a gross turnover of BD113.060 million last year (BD121.515 million for 2008), on which it earned a net profit of BD13.746 million (BD13.031 million for 2008).
The net profit has risen by 5 per cent compared to 2008.
The earnings per share increased from 60 fils to 64 fils per share of 100 fils each.
He added that despite adverse market conditions experienced during last year by the overall economy in particular and construction sector in particular, the company's impressive performance is a reflection of company's strong fundamentals and leadership in the sector.-TradeArabia News Service