The board of directors of the Saudi National Glass Industries Company (Zoujaj) proposed on 3 March 2004 a cash dividend payment of SAR 2.5 (USD 0.67/EUR 0.55) per share for 2003, equal to 5.0% of the …
The board of directors of the Saudi National Glass Industries Company (Zoujaj) proposed on 3 March 2004 a cash dividend payment of SAR 2.5 (USD 0.67/EUR 0.55) per share for 2003, equal to 5.0% of the share par value, the company said. The dividend is subject to approval by the company“s shareholders at a meeting which will also review the company“s 2003 financial performance. Zoujaj, established as a joint-stock company in 1990, has a paid-up capital of SAR 200 million (USD 53.3 million/EUR 43.8 million). Currently, the company has two factories in Dammam, eastern Saudi Arabia, and in the capital Riyadh, and exports its products to Pakistan, Algeria, the Gulf countries, Malta, Malaysia, Sudan and Lebanon. Zoujaj reported a 25% year-on-increase in net profit to SAR 28.9 million (USD 7.7 million/EUR 6.3 million) for 2003.