Savola Group approves 7.5% cash dividend for 2016

20/04/2017 Argaam

Savola Group has approved the cash dividend distributed at 7.5 percent of capital, totaling SAR 400.5 million for 2016, the company said in a statement to Saudi bourse, Tadawul.

 

Shareholders approved the board of directors’ report, the audit report and audited financial statements for 2016.

 

The decision came in a vote during the company’s extraordinary general meeting (EGM) on April 19.

 

Shareholders were also said to have discharged board members from liability associated with their activities in 2016, and selected an external auditor for 2017.

 

Shareholders also endorsed contracts to be signed between Savola’s subsidiaries on one part and Almarai Company, Abdulkadir Al Muhaidib and Sons Group (AMG), Herfy Food Services and Kinan International for Real Estate Development Co. on the other for the coming year.

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