TAM announces first cash dividends since Nomu listing

12 July 2023 Consultancy-me.com 1 min. read

Saudi digital solutions and management consultancy company TAM has announced its first cash dividends since listing on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) last month.

On Wednesday 14 June 2023, TAM went public on Nomu, following an IPO process that kicked off late 2022. TAM listed 16 percent of its share capital, as part of its ambition to embark on its next chapter of growth.

In a bourse disclosure, TAM has unveiled that it will distribute cash dividends of SAR 2.79 million for its fiscal year 2022. The company will disburse SAR 0.85 per share for 3.29 million eligible shares.

TAM announces first cash dividends since Nomu listing

TAM’s board greenlighted the cash dividends during their executive meeting on 11 July. Meanwhile, the payment date for the dividends, which represent 8.50% of the capital, will be disclosed at a later time.

Operating out of Riyadh, TAM supports the delivery of Vision 2030 reforms within the kingdom’s public sector. The firm has delivered more than 150 national projects across 20+ public domains in areas such as strategic development, policy innovation, public engagement, and digital solutions. TAM has also trained 10,000 Saudi nationals and managed SAR100 million in government grants.

TAM currently has more than 200 employees and expert contractors, with its leadership team including numerous high-profile executives. Company founder Abdullah Youssef serves as the managing director.

On Tadawul, TAM trades under the name ‘TAM Development Company’ with the symbol 9570.

Bourse filings show that since making its public debut last month, TAM has added a number of new engagements to its portfolio, including projects for the Literature, Publishing and Translation Authority, The Architecture and Design Commission, and the Mohammed Bin Salman Foundation.