Saudi Advanced Industries Co.’s (SAIC) shareholders will vote on the board’s recommendation on paying a 2.5% cash dividend, or SAR 0.25 a share, totaling SAR 12.5 million for H2 2020, during the extraordinary general meeting (EGM), slated for June 23, 2021.
|
Dividend Details (H2 2020) |
|
|
Current Capital |
SAR 500 mln |
|
Number of shares |
50 mln |
|
Dividend |
SAR 12.5 mln |
|
Dividend |
2.5% (SAR 0.25 per share) |
|
Record date |
Shareholders who own the company shares and enrolled in the company's register at Securities Depository Center Company (Edaa) by the end of the second trading day of the day of the general assembly meeting |
|
Payment date |
To be announced later |
They will also vote on financial statements, as well as board and auditor reports for 2020.
Additionally, they will discuss discharging board members from liability for last year, in addition to appointing an external auditor to review financial statements for Q2, Q3, and Q4 2021, and Q1 2022.
They will discuss the board’s decision on appointing Suha Bint Suwaid Al-Jahdali, as an independent board member, for the current three-year board term, ending Sept. 16, 2023.
They will discuss amending Articles of Association related to the company’s purposes, audit committee, as well as dividend payment.
This will be the third meeting of the company's EGM, as the company announced postponing the EGM second meeting, which was slated to be held on May 31, 2021, due to lack of quorum.
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