Bahri board plans minimum dividend of SAR 2 per share until 2022

The board of directors of National Shipping Co. of Saudi Arabia (Bahri) declared today, Sept. 21, the dividend distribution policy for the fiscal years 2020, 2021 and 2022.

The policy is subject to approval from the company’s general assembly.

It aims to maintain a minimum dividend rate of SAR 2 per share every year, through two semi-annual distributions of SAR 1 per share each, starting from 2020 until 2022, the company said in a bourse statement.

The dividend policy may be modified based on any fundamental changes in the company’s strategy, sharp fluctuations in global transport prices, or any commitments to financing agencies that may arise in the future, the statement added.

Bahri distributed cash dividend at SAR 1.5 per share for the fiscal years 2017 through 2019, according to data compiled by Argaam.