Jarir shareholders to discuss 10-for-1 stock split on May 30

A Jarir showroom

Jarir Marketing Co.’s shareholders will discuss the board’s 10-for-1 stock split proposal during the extraordinary general meeting (EGM), scheduled for May 30, according to a statement to Tadawul.

In the event that the board’s recommendation is approved, shareholders of record and those registered with Edaa on the second trading day following the EGM date will be eligible for the stock split.

The stock split will be effective on the share price as of the second business day subsequent to the EGM, the statement added.

Shareholders will also vote on transferring SAR 339.96 million in statutory reserve, as per financial statements for the year ended Dec. 31, 2022, to the retained earnings, and will discuss authorizing the board of directors to pay interim cash dividends on a semi-annual or a quarterly basis for 2023, the statement added.