SADAFCO shareholders to vote on 25% dividend for H2 2019-20 on June 16

Saudia Dairy and Foodstuff Co.’s (SADAFCO) shareholders are set to vote on a 25% cash dividend, at SAR 2.50 per share, for the second half of the fiscal year ending March 31, 2020, during the extraordinary general assembly meeting to be held on June 16, the company said in a bourse filing on Tuesday.

Earlier in May, the board of directors recommended a 25% cash dividend, amounting to SAR 81.25 million.

Shareholders will also vote on distribution of a 25% cash dividend, at SAR 2.50 per share, for H1 of FY ending March 31, 2020. In addition, they will also vote on authorizing the board of directors to distribute interim dividends on a semi-annual and quarterly basis for the FY ending March 31, 2021.

Meanwhile, they will vote on audited financial statements, audit and board reports for the fiscal year ending March 31, 2020, as well as discharge board of directors from liability for the same period. Shareholders will also endorse transactions and agreements with Al Buruj Cooperative Insurance Company, PKC Advisory and United Gulf Bank.

Shareholders will participate and vote on the meeting agenda items through Tadawulaty system as of June 12, as per the Capital Market Authority’s (CMA) circular issued on March 16, in line with the government’s efforts to prevent the spread of coronavirus.