SAIC shareholders to vote on interim dividends for 2020 on April 21

Saudi Advanced Industries Co. (SAIC) shareholders are set to vote at its general assembly meeting on April 21 to authorize the board to distribute interim dividends on a semi-annual/quarterly basis for the fiscal year 2020.

The company said in a statement to Tadawul that shareholders will also to vote on electing a new board for the new 3-year term starting Sept. 17, 2020.

In addition, the company’s audited financial statements, as well as board and auditors' reports for the fiscal year 2019 will be discussed.

SAIC reported a net profit after Zakat and tax of SAR 28.52 million for FY 2019, down 23% year-on-year (YoY), compared to SAR 37 million in 2018.