Al Othaim board changes dividend policy

Logo of Abdullah Al Othaim Markets Co.

Abdullah Al Othaim Markets Co.’s board of directors approved today, Nov. 4, changing the dividend policy, to be effective from the approval date.

In a statement to Tadawul, the supermarket chain said dividends will be distributed to shareholders on a quarterly, semi-annual, or annual basis from the distributable profits in accordance with the company’s audited or reviewed financial statements, and in compliance with relevant laws and regulations.

The board can now approve interim dividends in accordance with the authorization granted by shareholders or recommend dividend to shareholders.

Dividends are paid from distributable profits at the end of each financial period. The distribution is subject to the board’s decision, based on the company's financial position, available liquidity, capital expenditures, and financial obligations.

The company affirmed that dividends are distributed to registered shareholders within 15 business days from the eligibility date, which beings within 15 business days from the date of the dividend announcement.