Saudi Marketing Co. (Farm Superstores) has approved the board’s recommendation to pay cash dividend at 10 percent of capital (SAR 1 per share) totaling SAR 45 million for 2016, the company said in a bourse statement.
The decision came during the Farm Superstores’ ordinary general meeting (OGM) on May 4.
Shareholders of record on May 4 are entitled to receive the dividend.
During the meeting, shareholders approved the board of directors’ report, an audit report, and consolidated financial statements for 2016.
In addition, board members were discharged from liability associated with their activities in 2016, and an external auditor was selected for 2017.
Shareholders also approved SAR 1.4 million in board bonuses for 2016.
|
Cash Dividend Details (2016) |
|
|
Current Capital |
SAR 450 mln |
|
Number of shares |
45 mln shares |
|
Cash dividend |
SAR 45 mln |
|
Percent capital |
10% (SAR 1 per share) |
|
Record date |
May 4, 2017 |
|
Eligibility date |
May 8, 2017 |
|
Payment date |
To be determined |
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