Al-Drees Company in Saudi Arabia recommends distributing cash dividends for the year 2024, and the stock is experiencing a noticeable rise.

The Board of Directors of Aldrees Petroleum and Transport Services Company (Aldrees Saudi) announced its recommendation to distribute cash dividends of 15% of the nominal value of the share for the financial year 2024 during its meeting held this morning, Tuesday, January 21, 2024. This decision reflects the company's continued strong performance and supports its strategy to maintain attractive returns for investors in the Saudi market.

According to the statement issued by the company on the Saudi Stock Exchange, a total amount of SAR 150 million will be distributed across 100 million shares, with a allocation of SAR 1.5 per share. The distributions aim to provide attractive returns for shareholders, with the company specifying that the entitlement to dividends will be for shareholders who own the shares at the end of the day the General Assembly is held, and who are registered in the company's shareholder register at the Securities Depository Center (Edaa) by the end of the second trading day after the General Assembly, the date of which will be announced later.

The Outstanding Performance of the "Aldrees" Stock in the Saudi Market Shares of Aldrees Saudi Company (TADAWUL: 4200) recorded an increase of 0.81%, reaching SAR 124.80 in today’s trading. This rise followed the company’s announcement of dividend distributions, reflecting market confidence in the company and supporting investors' tendencies to enhance their investment portfolios in Saudi stocks. The share increased by SAR 1.00 during trading on the Saudi stock exchange, and this strong performance is expected to continue in light of the company's ambitious strategy in the petroleum and transport sector.

Future Expectations for Aldrees Saudi Company Aldrees Saudi Company is one of the leading companies in the petroleum services and transportation sector, and it seeks to expand its operations through new and innovative projects. Financial stability and regular distributions are expected to increase shareholders’ investments in the future, contributing to strengthening the company's financial position in the Saudi market. Investors anticipate that this announcement marks the beginning of a new chapter of sustainable growth and attractive returns.

Aldrees Saudi continues to focus on developing its businesses sustainably, making it one of the attractive investment options in the Saudi market. Dividend distributions are expected to support trading activity, enhancing the stock's appeal to investors.

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