Qassim Cement shareholders authorize board to pay interim dividends for 2024

Logo of Qassim Cement Co.

Shareholders of Qassim Cement Co. approved, on April 15, to authorize the board of directors to distribute interim dividends on a quarterly basis for 2024, the company said in a statement to Tadawul.

Shareholders also approved all other items on the agenda of the extraordinary general meeting (EGM).

Further, shareholders gave a nod to disbursing SAR 3.84 million as remuneration to the members of the board for the year ending on Dec. 31, 2023, and absolved them from liability for the same year.

The auditor's report for 2023 was also approved during the EGM.

Shareholders appointed KPMG Professional Services as the company’s auditor to examine, review and audit the financial statements for the second, third, and fourth quarters of 2024 and the first quarter of 2025, for an agreed professional fees of SAR 800,000, excluding VAT.

Updating the remuneration policy for the members of the board, its committees and executive management was also approved.

Shareholders further approved amending the company's Articles of Association, in accordance with the new Companies Law.

In addition, shareholders gave the green light for updating the regulations of the audit committee and the nomination & remuneration committee, as well as updating the policy of the board’s membership standards.