Bahri sends part of its tanker windfall to shareholders

Saudi shipping company Bahri will pay shareholders an exceptional interim dividend of 1.384 billion riyals ($369 million), or 1.5 riyals per share, after first-half profit climbed to 4.9 billion riyals from 940 million riyals a year earlier. An exceptional dividend is a one-off cash payment, not a commitment to maintain the same payout regularly. The gain came largely from its oil-tanker business, where higher freight rates, more operating days, and increased tanker chartering lifted earnings. The share price rose after the announcement, and the payout is Bahri’s largest exceptional distribution in records going back to 2003—showing the board is passing part of an unusually strong profit surge directly to investors.