Northern Cement shareholders approve 4.5% dividend for H116

The shareholders of Northern Region Cement Co. have approved a cash dividend at 4.5 percent of the stock’s par value, or SAR 0.45 a share totaling SAR 81 million, for H116, the cement producer said in a statement on Saudi bourse, Tadawul.

They also approved on Monday the board of directors’ report, an audit report and all financial statements for 2016.

Shareholders, during the general meeting, endorsed paying SAR 200,000 as bonus for each board member for FY16.

They also approved three contracts inked with National Pan Kingdom Construction Co., Global Specialized Transportation Company (GSTC), and Saudi Pan Kingdom Company (SAPAC) at a total value of SAR 28.7 million, related to selling and transporting unpackaged cement.