Al Hammadi shareholders to vote on dividend December 26

Al Hammadi Company for Development and Investment’s (Al Hammadi) shareholders will vote on the firm’s proposed 7.5 percent dividend for fiscal year 2017 at the upcoming general assembly meeting on Dec. 26.

Shareholders will also vote on updating corporate governance regulations; rules for the nominations and remuneration committee; remuneration for the board of directors, board committees, and executive management; and updated policies for board of directors membership.

Earlier this month, Al Hammadi’s board had recommended a 7.5 percent cash dividend to be issued at SAR 0.75 per share for 2017, amounting to SAR 90 million.