Yamama Cement shareholders authorize board to pay interim dividend for 2021

Yamama Cement’s headquarters

Yamama Cement Co.’s shareholders approved a number of decisions during the ordinary general assembly meeting (OGM), held on March 28, 2021, including delegating the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021, according to a bourse filing.

Shareholders also agreed to amend Article 2 of the company’s articles of association, regarding the company’s name, Article 3 related to the company’s purpose, and Article 20 regarding the firm’s management.

They also approved adding Article 26 regarding the powers of the chairman of the board of directors, and cancelling Article 41 and merging it with Article 54. They further amended Article 54 related to shareholders' rights and liability claims.

Shareholders also approved of the election of members of the board for the new three-year term, starting March 29, 2021.

The members of the new board include Prince Turki bin Mohammad bin Abdulaziz Al Saud, Prince Nayef bin Sultan bin Mohammad bin Saud Al-Kabeer, Fahad bin Thnyan Al- Thnyan, Faisal Sulaiman Abdul Aziz Al-Rajhi, Abdullah bin Mohammed Ibrahim Al-Bahouth, Abdullah Abdulrahman Thanian Al-Abikan, and Nizar Abdulaziz Osman Al-Tuwaijri.

Shareholders also approved of forming the audit committee, defining its duties, operating controls, and remuneration for its members for the new three-year session, starting March 29, 2021.

The members of the audit committee include Abdullah bin Mohammed Al-Bahouth, Raed Bin Ali Al-Seif, and Lotfi Shehadeh.