Ataa shareholders approve 10% cash dividend for FY 2021/22

Ataa Educational Co.’s shareholders approved the board recommendation to distribute a cash dividend at SAR 1 a share, or 10% of capital, for the fiscal year ended July 31, 2022, during the ordinary general meeting (OGM) held on Jan. 18.

In a statement to Tadawul, Ataa Educational indicated that the shareholders approved other items set forth in the meeting’s agenda, including transactions concluded between the company and its Vice Chairman Ahmed Al-Muttab and board member Farah bint Ahmed Al-Muttab, who have direct and indirect interests therein, respectively. 

According to the statement, these transactions are SAR 13.6 million worth lease contracts for Al-Fikr School and Modern Middle East International School complexes, concluded without preferential conditions. 

Board member Othman Al-Qasabi’s participation in a business competing with the company’s activity was also approved during the OGM, the statement added.