Electrical Industries shareholders approve 3-year dividend policy

05/12/2024 Argaam
Logo ofElectrical Industries Co.

Logo of Electrical Industries Co.

Electrical Industries Co.’s (EIC) shareholders approved a three-year dividend policy, starting H2 2024 until H1 2027, during an ordinary general meeting (OGM) held on Dec. 4, according to a statement to Tadawul.

 

Shareholders also approved electing board members for the coming four-year term starting Dec. 9, 2024, the statement added.

 

For more news on listed companies

 

The elected members are Sattam Al Zamil, Bader Al Suwailem, Jameel Al Molhem, Faisal Al Quraishi, Tariq Al Tahini, Mahmoud Al Toukhi and Khalid Al Harbi, among others.

 

EIC’s board of directors approved on Aug. 28 the dividend policy to maintain a minimum limit of dividends on a semi-annual basis, Argaam reported.

 

The three-year policy entails distributing cash dividends at 12.5 halalas per share semi-annually.

 

The company paid a 20% cash dividend, or SAR 0.1 per share, for H1 2024.

 

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