Tibbiyah shareholders approve 30% cash dividend for 2021, buyback of 210,000 shares

Shareholders also greenlit Tibbiyah’s long-term incentive plan (LTIP), which was approved by the board of directors on April 21, 2022. The board was also delegated to set out the terms of such program, including the allocation price for each share offered to employees, if it is not for free.

Moreover, Tibbiyah’s buyback of 210,000 shares maximum, under the LTIP, was also approved. The buyback process will be financed by the company’s internal resources and the board will be authorized to finalize the repurchase process within 12 months maximum from the general assembly’s decision date. The repurchased shares will be retained by Tibbiyah for three years.

The board of directors was also authorized to pay cash dividends for 2022 on a semi-annual or a quarterly basis, the statement added.