Fitness Time Saudi Distributes $13.6M Q1-24 Dividends
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The shareholders of Leejam Sports Company, also known as Fitness Time, have approved a cash dividend totaling SAR 50.81 million for the first quarter of 2024.
The company will distribute a dividend of SAR 0.97 per share, which represents 9.70% of the share’s nominal value, covering 52.38 million eligible shares.
Fitness Time announced that the distribution will take place on June 25, 2024, as reported in a stock market disclosure.
The approval for the cash dividends occurred during an extraordinary general meeting (EGM) held on June 6, following the board's recommendation in May.
In Q1-24, Fitness Time's net profits surged by 49.20% to SAR 94 million, compared to SAR 63 million in Q1-23.
The company’s revenues rose by 24.18% to SAR 344 million in Q1-24 from SAR 277 million in the same period the previous year.
Meanwhile, earnings per share (EPS) increased to SAR 1.80 from SAR 1.20.
Source: zawya
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