SARCO shareholders approve dividend freeze for 2016

23/04/2017 Argaam

Saudi Arabian Refineries Co. (SARCO) has approved the board’s recommendation on withholding dividend for 2016, the company said in a statement to Saudi bourse, Tadawul.

 

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

 

The decisions came in a vote during the company’s extraordinary general meeting (EGM) on April 20.

 

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

 

The Saudi company paid cash dividend at SAR 0.50 a share for FY15, data compiled on Argaam showed.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.