Almarai approves FY17 dividend at SAR 0.75/share

10/04/2018 Argaam

 

Almarai Co.’s extraordinary general assembly (EGA) has approved a 7.5 percent cash dividend for fiscal year 2017 (SAR 0.75 per share) amounting to SAR 750 million.

 

Shareholders also approved the purchase of up to 10 million shares to allocate them to the Employee Stock Participation Program (ESOP). During the EGA, the board was delegated to complete the purchase in one or several steps within a period of 12 months from the assembly’s date.

 

The company’s board will also be responsible for determining the term and conditions for this program, including the stock’s price. 

 

Cash Dividend Details (2017)

Current Capital

SAR 10 bln

Number of shares

1 bln

Cash dividend

SAR 750 mln

Percent capital

7.5% (SAR 0.75 per share)

Record date

April 9, 2018

Payment date

April 17, 2018

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