TAM shareholders approve 12.3% dividend for 2023

Logo of TAM Development Co.

TAM Development Co.’s shareholders approved the board of directors’ recommendation to distribute a 12.3% cash dividend, or SAR 1.23 per share, for 2023, during the ordinary general meeting (OGM) held on June 11, according to a Tadawul statement

 

Cash Dividend (2023)

Capital 

SAR 36.60 mln

Number of Shares*

3.66 mln 

Total Dividend 

SAR 4.05 mln 

Percentage of Capital 

12.3% (SAR 1.23 per share) 

Record Date 

June 11, 2024, including shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the record day

Payment Date 

June 27, 2024

* 3.29 million dividend-eligible shares

 

Additionally, shareholders approved transferring the balance of the statutory reserve, amounting to SAR 6.32 million and the other reserve amounting to SAR 3.08 million as of Dec. 31, 2023, to retained earnings.

 

They authorized the board of directors to distribute interim dividends for 2024 on a semi-annual or quarterly basis.

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