SACO shareholders authorize board to pay interim dividend for 2021

02/05/2021 Argaam

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Saudi Company for Hardware’s (SACO) shareholders approved authorizing the board to pay interim dividend for 2021 on a quarterly or semi-annual basis, during the ordinary general meeting (OGM) held on April 29, 2021.

 

The company said in a bourse statement that shareholders also approved a number of business contracts that will be concluded between the company and the heirs of Abdullah Taha Bakhsh, owners of Abrar International Holdings Co. (a major shareholder), worth SAR 6.24 million.

 

There are related parties in the contract, including non-executive board members Talal Bakhsh and Hany Alshuwaier. There are no preferential terms in the agreement, the statement added.

Meanwhile, they approved all other items on the meeting’s agenda including a board remuneration of SAR 1.8 million for 2020.

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