SADAFCO shareholders to vote on dividend July 2

Saudia Dairy and Foodstuff Co.'s (SADAFCO) shareholders will vote on the board of directors’ recommendation to distribute a 20 percent cash dividend (SAR 2 per share) for H2 2017/2018 in the upcoming general assembly meeting on July 2.

The proposed dividend will total SAR 65 million, the company said in a bourse statement on Sunday.

The company’s financial statements, as well as board and auditors' reports for the fiscal year ending March 2018 will be also discussed.

Additionally, shareholders will vote on approving SAR 2.8 million in board remuneration, appoint external auditors, and discharge board members from liabilities for the previous fiscal year.

The updated policies for the audit and remuneration and nomination committees will be also discussed, the statement added.