AMAK shareholders OK dividend distribution policy for 2023, 2024

Logo of Al Masane Al Kobra Mining Co. (AMAK) 

Al Masane Al Kobra Mining Co.’s (AMAK) shareholders approved the dividend distribution policy for 2023 and 2024, during an ordinary general meeting (OGM) held on May 29.

In a statement to Tadawul, the company pointed out that shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2023.

Early May, AMAK board of directors approved the dividend distribution policy for 2023 and 2024, with the aim of maintaining a minimum dividend per share on a semi-annual basis, Argaam earlier reported.

The company will consider paying additional dividends, subject to shareholders’ approval, after assessing the financial position, outlook and capital requirements.

Dividends will likely differ year to year based on the company’s performance.