Al-Jouf Agricultural to vote on 5% dividend for H2 2019 on May 6

Al-Jouf Agricultural Development Co.’s shareholders are set to vote on a 5% cash dividend at SAR 0.50 a share, for H2 2019, during the general assembly meeting that will be held on May 6, 2020.

Shareholders will also vote on delegating the company’s board of directors to distribute dividend for FY 2020 on an annual or a semi-annual basis.

The general assembly will also vote on a board recommendation to stop setting aside 10% of net profit for statutory reserve as the account reached over 30% of capital.

Meanwhile they will vote on audited financial statements and audit report for the fiscal year 2019 as well as the board report for the same period.

In addition, they will vote on discharging members of the board of directors from liabilities during FY 2019.

During the meeting, they will also vote on appointing an external auditor to audit the company’s financial statements for Q2, Q3 and Q4 2020 as well as Q1 2021 and FY 2020.