logo
Arabian Drilling goes ex-dividend today

Arabian Drilling goes ex-dividend today

Argaam13-03-2025

Shares of Arabian Drilling Co. have their ex-dividend today, March 13, for H2 2024.
The company's board of directors approved the payment of a 13.5% cash dividend, or SAR 1.35 per share, for H2 2024.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SAB Invest exits real estate fund for SAR 268 million with 35% ROI, Mohammed Al Habib Real Estate launches Azure's Lamara complex
SAB Invest exits real estate fund for SAR 268 million with 35% ROI, Mohammed Al Habib Real Estate launches Azure's Lamara complex

Argaam

timean hour ago

  • Argaam

SAB Invest exits real estate fund for SAR 268 million with 35% ROI, Mohammed Al Habib Real Estate launches Azure's Lamara complex

SAB Invest has successfully divested a fund in its real estate portfolio that includes Azure's Lamara residential complex for SAR 268 million. In a statement, the company clarified that the asset was acquired in collaboration with Mohammed Al Habib Real Estate Company. This marks the first exit from its real estate portfolio since launching its strategy in 2022, with the portfolio now valued at over SAR 3 billion. Ali Almansour, Managing Director & CEO at SAB Invest, said: 'This milestone is the culmination of a successful strategic partnership between the two parties, with Mohammed Al Habib Real Estate Company taking full responsibility for the project development and execution. The collaboration resulted in a return on investment (ROI) exceeding 35% in less than two years for the fund's investors — a testament for the efficient management and execution quality.' Abdullah Al Habib, CEO of Mohammed Al Habib Real Estate Company, commented: 'Our success in the Lamara project is a practical testament to the efficiency of our business model, which is rooted in high-quality execution, strict adherence to timelines, and delivering attractive returns for investors.' The Lamara project spans a total area of 30,000 square meters and includes 319 residential units - townhouses to apartments. The project was completed and sold in less than two years, ahead of the planned schedule, according to the company's statement. Osama Alowedi, Chief Investment Officer at SAB Invest, highlighted that since the launch of the local real estate program, the company has invested in several prime real estate assets across Saudi Arabia, with a total asset value surpassing SAR 3 billion. Waleed Bakarman, Head of Real Estate Investments at SAB Invest, added that the company's real estate portfolio comprises properties with a total leasable area nearing 1,000,000 square meters. This includes approximately 850,000 square meters of mixed-use and residential properties featuring more than 1,500 residential units, along with commercial and logistics assets.

ACWA Power to use 85% of capital hike proceeds in new local projects: Exec
ACWA Power to use 85% of capital hike proceeds in new local projects: Exec

Argaam

time17 hours ago

  • Argaam

ACWA Power to use 85% of capital hike proceeds in new local projects: Exec

Abdulhamid Al-Muhaideb, CFO at ACWA Power Co., said as much as 75-85% of proceeds from the planned capital increase will be allocated to new projects within Saudi Arabia. In an interview with Al Ekhbariya TV today, June 15, the CFO confirmed the Saudi-listed company's plan to maintain net debt at SAR 20 billion, while also executing new projects worth SAR 34 billion during 2025. ACWA Power's project portfolio, according to the top executive, is valued at SAR 400 billion, comprising a power generation capacity of over 78 gigawatts and water desalination capacity of around 9.5 million cubic meters. The company aims to triple its assets under management (AUMs) to above $250 billion by 2030, he further stated. In June 2024, ACWA Power's board recommended increasing capital through a SAR 7.12 billion rights offering, according to Argaam 's data. Last May, the company secured the Capital Market Authority's (CMA) no-objection on its planned capital top-up through a SAR 7.12 billion rights issue. Shareholders are scheduled to vote on this proposal on June 30. Proceeds will be used to finance ongoing and future projects at SAR 5.28-5.98 billion. Further, up to SAR 1.41 billion will be geared towards funding mergers and acquisitions, while another SAR 351 million will be earmarked for other business purposes.

Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields
Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields

Leaders

time4 days ago

  • Leaders

Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields

Saudi Arabia and the Kingdom of the Netherlands have signed multiple agreements and memoranda of understanding (MoUs) aimed at strengthening cooperation in the fields of environment, water, and agriculture. These agreements, involving both public and private sector entities from both countries, include investments totaling more than SAR 428 million. The funds will be directed toward developing and localizing advanced technologies in these critical sectors. The signings took place during the visit of Saudi Vice Minister of Environment, Water and Agriculture, Eng. Mansour bin Hilal Al Mushaiti, to the Netherlands from June 10 to 12. A total of 27 agreements and MoUs were formalized in the presence of senior ministry officials and representatives from Saudi and Dutch organizations. This visit aligns with the Ministry's broader strategy to elevate the global competitiveness of Saudi Arabia's agricultural sector, promote the production and export of local agricultural goods, enhance trade relations with the Netherlands, and deepen international cooperation. These efforts support the objectives of Saudi Vision 2030. Related Topics: Saudi Arabia, Netherlands Discuss Trade Cooperation ROSHN Green Initiative Center: Inspiring Future Environmental Leaders Saudi Arabia Welcomes Foreign Real Estate Investors Outside Holy Cities All You Need to Know about Hajj Rituals: A Step-by-Step Guide Short link : Post Views: 7 Related Stories

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store