Qassim Cement shareholders to vote on interim dividends for 2021 on March 17

Qassim Cement Logo

Qassim Cement Co.' shareholders are set to delegate the board of directors to pay interim cash dividends on a quarterly basis for 2021, during the ordinary general meeting that will be held on March 17.

Shareholders will vote on the decision of the board of directors regarding the dividend distribution amounting to SAR 400.5 million, or SAR 4.45 per share for the first, second and third quarters of 2020, the company said in a bourse filing.

They will discuss the board of directors and auditor's annual reports, as well as financial statements for 2020.

The general assembly will also vote on the appointment of an auditor as well as the business and contracts between the company and the NBK Capital, in which board member Tariq Al Mutlaq has an indirect interest.

The agenda items include discharging board members from liability and voting on the total cash dividends paid for Q1, Q2, Q3 and Q4 2020 at SAR 4.45 a share, totaling SAR 400.5 million.

Shareholders will also discuss the board of directors’ decision on appointing Mutab Al-Shathry as a non-executive board member from March 9, 2020, Osama Al-Saif as an independent board member from June 1, 2020 and non-executive member Tariq Al-Marshoud as an Audit Committee member from Oct. 21, 2020.

The cement producer will adopt electronic voting as of March 14 on the agenda items of its general meeting.