SAIC shareholders to vote on H2 2020 cash dividend at 2.5% on May 31

Saudi Advanced Industries Co.’s (SAIC) shareholders will vote on the board’s recommendation on paying cash dividend at 2.5% of stock nominal value, or SAR 0.25 a share, totaling SAR 12.5 million for H2 2020, during extraordinary general meeting (EGM), slated for May 31, 2021, according to a bourse filing.

Shareholders will also vote on financial statements as well as board and auditor's reports for 2020.

Additionally, they will discuss discharging board members from liability for last year, in addition to appointing an external auditor to review financial statements for Q2, Q3, and Q4 2021, and Q1 2022.

They will discuss the board’s decision on appointing Suha Bint Suwaid Al-Jahdali, as an independent board member, for the current three-year board term, ending Sept. 16, 2023.

They will discuss amending Articles of Association related to the company’s purposes, the audit committee, as well as the dividend payment.

Shareholders can vote on the agenda items as of May 27, 2021, through Tadawulaty services.