MARAFIQ EGM to vote on transferring SAR 342M reserve to retained earnings on July 24

13/06/2024 Argaam
Logo ofPower and Water Utility Company for Jubail and Yanbu (MARAFIQ)

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

Shareholders of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) will vote on transferring SAR 342 million from the statutory reserve as of Dec. 31, 2023, to retained earnings during the extraordinary general meeting (EGM) slated for July 24.

 

They will also vote on authorizing the board of directors to distribute SAR 275 million in dividends, or SAR 1.1 per share, the company said in a statement on Tadawul.

 

The dividend stands at 11% of the stock’s nominal value.

 

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