National Cement Company P.S.C. Approves Dividends and Looks Forward to a Bright Future
The National Cement Company P.S.C. recently held a successful board meeting, approving dividends and financial statements, indicating a promising future for the company.
Summary
The board of National Cement Company P.S.C. approved a cash dividend of 15% for 2023, equivalent to 53,820,000 dirhams. The optimistic outlook for the company suggests a strong investment opportunity.
The National Cement Company (P.S.C.) held a board meeting on 28th March 2024, where they approved the audited financial statements for 2023 and the Corporate Governance Report. The board also agreed to convene the Annual General Meeting and open nominations for membership, subject to relevant approvals. A significant decision was the approval of a cash dividend distribution for 2023 at a rate of 15% of the nominal value of the shares, equivalent to 53,820,000 dirhams at a rate of 15 fils per share.
These decisions reflect a strong financial position and a promising future for the company. The National Cement Company (P.S.C.), with its significant market cap of 861,120,000, has consistently shown growth and stability. The company's yield over the past months has remained steady, further indicating its stability amidst market fluctuations.
Considering the company's strong financial position, steady yields, and the recent decision to distribute dividends, it seems like an opportune time for investors to consider this company. The company's strong foothold in the cement industry, combined with its strategic investments in securities and derivative products, provide a diversified portfolio that can withstand market uncertainties.
With the upcoming Annual General Meeting and the opening of nominations for membership, the company is poised to bring fresh perspectives and strategies to the table, which could further enhance its growth trajectory. Therefore, the future of the National Cement Company (P.S.C.) looks bright and optimistic.
Source
Summary
The National Cement Company P S C Board held a meeting on 28/03/2024, with six members present, achieving a quorum of 85.7%. The board approved the minutes of the previous meeting, the audited financial statements for 2023, and the Corporate Governance Report for 2023. They also agreed to convene the Annual General Meeting and open nominations for membership, subject to relevant approvals. A recommendation was made to distribute cash dividends for 2023 at a rate of 15% of the nominal value of the shares, equivalent to 53,820,000 dirhams at a rate of 15 fils per share. The company's business was also discussed.
