RIYADH: Saudi Advanced Industries Co.’s on Sunday reported bumper annual profit and announced a full-year dividend payout. In another development, Saeed bin Abdullah Almoeather, the company’s CEO, resigned from his position effective May 15. According to a bourse filing, he resigned due to “his own circumstances.” The Saudi-listed firm disclosed its 2021 earnings, revealing more than a threefold jump in profits to SR91 million ($24 million), against SR26 million a year earlier. This came as revenues soared 175 percent due to “an increase in company shares from subsidiaries profits,” it said. Along with solid results, SAIC’s board of directors proposed an annual dividend payout of SR0.75 per share.