Halwani Bros approves 25% cash dividend for FY17

Halwani Bros Co.’s shareholders on Thursday approved a 25 percent cash dividend for fiscal year 2017 (SAR 2.5 per share) amounting to SAR 71.43 million, the food producer said in a statement on Tadawul.

Registered shareholders at Securities Depository Center Co. (Edaa) by the end of the second trading day following the general assembly are entitled to receive the cash dividend, the statement said.

Banque Saudi Fransi will deposit the cash dividend into the firm’s investment portfolios at Saudi banks on April 16.

Shareholders, during the ordinary general assembly, also approved the board’s report, financial statement, and auditor’s report for fiscal year 2017.

They approved appointing Ernst & Young as auditor for all four quarters and for full year 2018.

The shareholders also approved the deals and contracts that will be signed with Dallah Trading Co., as board member Abdulaziz Mohamed Yamani is also a member on Dallah’s board of directors. Last year’s deals amounted to SAR 470,000.

They also approved the board of directors’ remuneration of SAR 1.8 million for FY 2017.