Al Moammar announces dividend policy until 2023, financials publishing dates for 2021

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co.’s (MIS) board of directors approved, during their meeting on Jan. 4, 2021, the dividend policy for 2021,2022 and 2023.

The company said in a bourse statement that the policy will be subject to the final verifications of the next general assembly meeting, which will be announced later.

The policy is aimed at maintaining a minimum annual profit-sharing per share on 45%.

The dividend policy stipulates that MIS aims to distribute profits on the basis of 45% of net profits per annum, on a semi-annual basis, for 2021, 2022 and 2023.

The dividend policy will be subject to amendments based on any fundamental changes in the company's strategy or any obligations to the financial entities that may arise in the future.

Through this policy, MIS aims to balance cash distributions with continuing to support and expand the company's capital base in line with the expected growth and expansion of the business.

In a separate bourse statement, the company announced the dates for posting 2020 annual financial results, as well as quarterly financial results (reviewed and audited) for 2021, as follows:

- Feb. 21, 2021 for posting 2020 annual financial results

- Apr. 25, 2021 for posting financial results of Q1 2021

- July 25, 2021, for posting financial results of Q2 2021

- Nov. 25, 2021, for posting financial results of Q3 2021

MIS, however, clarified that there will be a possibility that the preliminary financial results might be announced before the above set dates.

The set dates will be followed by the company, unless any unforeseen circumstances arise, the statement added.