Alawwal Bank shareholders to vote on dividend

Alawwal Bank shareholders will vote on the board of directors’ recommendation to distribute a 2.5 percent cash dividend amounting to SAR 400.1 million (SAR 0.25 per share), during the bank’s extraordinary general assembly meeting on March 27.

During the meeting, shareholders will also approve the remuneration paid to board members, indemnification of board members, and appointment of external auditors, Alawwal Bank said in a bourse statement on Wednesday.

Other items on the agenda include voting on the appointment of external auditors to review and audit the bank’s 2018 financial statements, and various amendments to the company’s bylaws.

Moreover, shareholders will vote on the following business and contracts:

1) A one-year contract worth SAR 1.8 million between the bank and Al-Bustan Company for staff housing

2) A one-year contract worth SAR 70,396.2 between the bank and Schindler Olayan Elevator Co. for elevator maintenance

3) A one-year contract worth SAR 29,032.5 between the bank and Arabian Business Machines Company (ABM) for x-ray machine maintenance

4) A one-year contract worth SAR 3 million between the bank and Saudi Xerox Agencies Company (SXL) for departmental printing services.

Board member Lubna Sulaiman has an indirect interest in all four contracts,, the bank said.

Registered shareholders at Securities Depository Center Co. (Edaa) by the end of the trading day prior to the extraordinary general assembly meeting can attend or authorize a representative.