Southern Cement approves 22.5% dividend for H2-2016

Southern Province Cement Co.’s (SPCC) shareholders on Thursday approved a 22.5 percent cash dividend (SAR 2.25 per share) for the second half of 2016, totaling SAR 315 million, the company said in a statement to Tadawul on Sunday.

Shareholders of record on the general meeting date are entitled to receive the dividend.

SPCC’s extraordinary general assembly also approved the board of directors’ report, an audit report, and all financial statements for 2016.

Moreover, shareholders endorsed SAR 1.8 billion in board bonuses for 2016, discharged board members from liability associated with their activities last year, and approved the selection of an external auditor for 2017.