Rayan Advanced: Revenues rise to SAR 224 mln in 2022, SAR 7/share cash dividend to public shareholders from 2022-2024

Logo of Rayan Advanced Industrial Company

Chairman of Rayan Advanced Industrial Company, Hassan Al-Sairafi, said that the selling shareholders jointly approved the board of directors’ recommendation, announced on Nov. 29, 2022, on a cash dividend at SAR 7 per share for 2022, payable in full directly after the company’s listing. Rayan will also pay a semi-annual dividend at SAR 7 per share for 2023 and 2024 each to public shareholders.

On the other hand, CEO Sami Joudeh in a previous interview with Argaam expected the company’s revenue to rise to nearly SAR 224 million in 2022 and SAR 260 million in 2023, based on demand levels and market expectations.

Rayan operates in the production, selling and marketing of the plastics used in specialized packaging, which depend on high-and low-density polyethylene. The company exports products to over 18 countries in the Middle East. Rayan currently seeks to ramp up its production capacity by 136% to fulfill demand for its products and foray into additional markets in the Middle East and Europe.