Almarai shareholders to vote on SAR 750 mln dividend payout

Almarai's shareholders will have their say on the board of directors' recommendation to distribute a 7.5 percent cash dividend (SAR 750 million - SAR 0.75 per share) on April 9.

Registered shareholders at Securities Depository Center Co. (Edaa) by the end of the second trading day following the meeting, will be eligible for the dividend, the company said in a bourse statement.

Shareholders will also vote on the financing facility for the period (2016–2027) with Saudi British Bank (SABB) amounting to SAR 1.24 billion and purchase of up to 10 million shares and to allocate them within the Employee Share Participation Program (ESOP). They will also vote on the SAR 640 million sales contract with Panda Retail Company.

Shareholders will also look into the remuneration extended to board members, payment of sukuk dividend, audit report and the exemption of board members from liabilities.