Saudi Top shareholders approve 120% cash dividend for 2022

Logo of Saudi Top Trading Co.

Saudi Top for Trading Co.’s shareholders approved the board’s recommendation to pay a cash dividend at 120%, or SAR 12 per share, for 2022, during the extraordinary general meeting (EGM) held on Jan. 31, according to a statement to Tadawul.

These dividends are payable to public shareholders, excluding Abdullah AlAjmi who waived his profit for 2022.

 *Excluding shareholder Abdullah AlAjmi who waived his profit for 2022

Shareholders also approved authorizing the board to distribute interim dividends on quarterly or semi-annual basis for 2023.

According to data complied by Argaam, Saudi Top Trading announced, prior to its listing on Nomu-Parallel Market, a cash dividend at SAR 12 per share for 2022, payable to public shareholders in full directly after the company’s listing.

The company also stated that it will pay a semi-annual dividend at SAR 12 per share for 2023 and 2024.

Meanwhile, shareholder Abdullah AlAjmi, who owns 70% of the company’s capital,  waived his profit for 2022, 2023 and 2024.

AlAjmi, further, announced he will not dispose of his shares for a period of three years, as of the date of the company’s listing on Nomu.