Atlas Elevators shareholders OK 5% cash dividend for H2 2023

Logo of Atlas Elevators General Trading and Contracting Co.

Atlas Elevators General Trading and Contracting Co.’s shareholders agreed on the board of directors’ recommendation to distribute a cash dividend of SAR 0. 5 per share, or 5% of capital, for H2 2023 at the extraordinary general meeting (EGM) on May 29, the company said in a statement to Tadawul.

Cash Dividend (2023)
Current Capital	SAR 60 mln
Number of Shares	6 mln
Total Dividend	SAR 3 mln
Percentage of Capital	5% (SAR 0. 5 per share)
Record Date	May 29, 2024 (Shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the trading day following the record date)
Payment Date	June 11, 2024

Total Dividend (2023)
Total Dividend	SAR 6 mln
Percentage of Capital	10% (SAR 1 per share)

Additionally, shareholders approved the board’s recommendation to transfer the company’s statutory reserve balance of SAR 3.27 million as per the 2023 financial statements to the retained earnings balance.

They also approved authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2024, the statement added.

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