Dar Al-Arkan shareholders to vote on 5% dividend May 15

Dar Al-Arkan Real Estate Development Co.'s shareholders will vote on the board’s proposal for a 5 percent cash dividend, to be issued at SAR 0.50 per share for the fiscal year 2017 on May 15, the company said in a bourse statement on Tuesday.

The dividend will be distributed to eligible shareholders registered at the Security Depository Center on the second day after the due date, to be determined later on by the company.

Shareholders will also review the board's report, financial statements and external auditor’s report for the fiscal year 2017.

The general assembly will vote on amending the articles of association, the policies of board membership and remuneration.

An external auditor will be hired for the current fiscal year, the statement added.