Care EGM to vote on 20% dividend for 2023, reserve transfer on May 22

National Medical Care Co.’s (Care) shareholders are set to vote on a board recommendation to distribute a 20% cash dividend, or SAR 2 per share, for 2023, in an extraordinary general meeting to be held on May 22 according to a Tadawul statement.

Shareholders will also vote on the transfer of the statutory reserve balance of SAR 186.02 million as of Dec. 31, 2023 to retained earnings account.

Meanwhile, they will vote on the repurchase of 160,000 ordinary shares maximum to allocate them for the employee stock incentive program.

The repurchase will be financed from the company's resources.

The board will complete the purchase process within a maximum period of 12 months from the date of the EGM decision, provided that the purchased shares are kept for a period not exceeding 10 years from the approval date. After the expiry of this period, the company follows the procedures and controls stipulated in the relevant laws and regulations.