Budget Saudi shareholders to vote on 5% dividend for H2 2019 on June 15

Shareholders of United International Transportation Co. Ltd. (Budget Saudi) will vote on a 5% cash dividend for the second half of 2019, at SAR 0.50 per share, in the general meeting that scheduled for June 15, 2020, the company said in a bourse statement on Sunday.

Shareholders will also vote on authorizing the company’s board of directors to distribute cash dividend for FY 2020 on a semi-annual or a quarterly basis.

Other agenda items include a board remuneration of SAR 2.53 million for FY19, and discharging the board members from liabilities for the same fiscal year.

Budget Saudi had earlier cut the proposed dividend to 5% from 15% for H2 2019, to maintain liquidity, cash flows and normal operations during the lockdown period, in light of the precautionary measures adopted by the Kingdom to curb the COVID-19 outbreak.