SACO EGM to vote on SAR 24.5M reserve transfer to retained earnings on May 16

25/04/2024 Argaam
SACO headquarters

SACO headquarters

Saudi Company for Hardware's (SACO) shareholders will vote on transferring SAR 24.5 million in statutory reserve as of Dec. 31, 2023, to the retained earnings account during an extraordinary general meeting (EGM) scheduled for May 16.

 

Shareholders will also vote on the board's recommendation to withhold dividends for 2023, the company said in a Tadawul filing today, April 25.
 
They will also decide on authorizing the board to distribute dividends on a quarterly or semi-annual basis.

 

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