Al Yamamah Steel shareholders to vote on 10% dividend for FY 2019/20 on Feb. 15

Al Yamamah Steel Industries Co.’s shareholders are set to vote on the board’s recommendation to distribute a 10% cash dividend, or SAR 1 per share, for the fiscal year (FY) ended Sept. 30, 2020, during the ordinary general meeting (OGM) that will be held on Feb. 15, 2021.

Shareholders will be able to participate and vote on agenda items through Tadawulaty services offered by the Securities Depository Center Co. (Edaa), in line with the Capital Market Authority’s (CMA) decision to suspend personal attendance at general meetings to contain the spread of Coronavirus.

 Shareholders will also vote on the financial results, as well as the board and auditor’s reports for the FY 2019/20.

In addition, they will vote on appointing an auditor, discharging board members from liabilities for FY 2019/20, in addition to a board remuneration of SAR 2.060 million for FY 2019/20.

Shareholders will also vote on authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for the FY 2021.