Alujain shareholders to vote on dividend policy for 2022, 2023 on May 18

Logo of Alujain Holding Corp.

Alujain Holding Corp.’s shareholders will vote on the company’s dividend policy for 2022 and 2023, during the extraordinary general meeting (EGM) slated for May 18, according to a bourse filing.

Alujain aims to pay a cash dividend at 10% of the paid-in capital, or SAR 1 a share minimum for each year. However, the dividend policy will remain subject to changes based on several factors, including any material changes in the company’s strategy and business portfolio; an increase in the company's future investments and projects; any current or future obligations to financial entities and a vote on authorizing the board to distribute interim dividends for 2022.

Shareholders will further vote on suspending the allocation of 10% of net profit to the statutory reserve as of financial statements on March 31, 2022. The statutory reserve reached 41.63% of capital as on Dec. 31, 2021.