Bawan approves SAR 89 mln from statutory reserve to offset losses

23/05/2019 Argaam

 

Bawan Co.’s shareholders approved on Wednesday using SAR 88.9 million from statutory reserve to offset accumulated losses, the company said in a bourse statement.

 

Shareholders have also delegated the company’s board to distribute cash dividend for the fiscal year 2019.

 

During 2018, Bawan’s accumulated losses reached SAR 81 million representing 13.5 percent of capital, Argaam reported earlier.

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