Almarai general assembly approves US$266M dividend payout

SAUDI ARABIA – Almarai’s  Extraordinary General Assembly has approved a dividend payout of US$266 million for the second half of 2024, equating to US$0.27 per share. 

This decision highlighted the company’s strong financial performance and commitment to shareholder value. 

The assembly, chaired by HH Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer, also greenlit amendments to the company’s bylaws, aligning with Saudi Arabia’s updated corporate governance regulations.

According to a report, Almarai’s financial robustness is further highlighted by its 2024 – 2028 investment strategy, which allocates over US$4.8 billion to enhance its position as the world’s largest vertically integrated dairy company. 

The strategy focuses on expanding poultry production by 35% in 2025 and strengthening supply chain capabilities to support food security in the region. 

“Our investment plan is designed to drive sustainable growth while maintaining the highest quality standards,” said Prince Naif during the assembly. 

Almarai’s recent performance includes a 16% profit increase in the fourth quarter of 2024, reaching US$115 million, driven by a 4.8% revenue rise to US$1.37 billion. 

The company’s digital transformation, including a partnership with Google Cloud announced in November 2024, is set to optimize operations and enhance customer experiences. 

“We are leveraging technology to meet evolving consumer demands and maintain our competitive edge,” stated Almarai’s CEO, Abdullah Al-Badr.

Despite its growth, Almarai faces challenges abroad. Previously, legal action was taken against Almarai over groundwater depletion concerns at two farms following the cancellation of land lease deals in 2024.

The assembly’s decisions reflect Almarai’s strategic focus on expansion and sustainability while navigating global operational challenges. 

With a strong financial foundation and ambitious investment plans, the company continues to solidify its leadership in the food and beverage sector, contributing significantly to regional economic goals.

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