Saudi Top shareholders to vote on SAR 12/share cash dividend for 2022 on Jan. 31

Logo of Saudi Top Trading Co.

Nomu-listed Saudi Top for Trading Co. will convene its extraordinary general meeting (EGM) on Jan. 31, to vote on the board of directors’ recommendation to distribute a 120% cash dividend, or SAR 12 per share, for 2022, payable to public shareholders excluding Abdullah AlAjmi who waived his profit for 2022.

 *Excluding shareholder Abdullah AlAjmi who waived his profit for 2022

In a statement to Tadawul, the company stated that shareholders will also vote on authorizing the board to distribute quarterly and interim dividends for 2023.

According to data complied by Argaam, Saudi Top Trading announced, prior to its listing on Nomu Parallel-Market, a cash dividend at SAR 12 per share for 2022, payable to public shareholders in full directly after the company’s listing.

The company also stated that it will pay a semi-annual dividend at SAR 12 per share for 2023 and 2024 each to public shareholders.

Meanwhile, shareholder Abdullah AlAjmi (who owns 70% of the company’s capital) waived his profit for 2022, 2023 and 2024.

AlAjmi, moreover, announced his commitment not to dispose of his shares for a period of three years, starting as of the date of the company registration on Nomu.