Tibbiyah shareholders to discuss 30% cash dividend for 2021 on June 29

Shareholders will also vote on the long-term incentive plan (LTIP), which was approved by the board of directors on April 21, 2022, and will delegate the board to set out the terms of such program, including the allocation price for each share offered to employees if it was in exchange of fees.  

In addition, shareholders will discuss the buyback of 210,000 shares maximum, under the LTIP. The share buyback will be financed from the company’s internal resources and the board will be authorized to finalize the repurchase process within 12 months maximum from the general meeting decision date. The company will retain the shares for three years. 

During the meeting, the board of directors will be further authorized to pay cash dividend for 2022 on a semi-annual or a quarterly basis, the statement added.