Elm shareholders OK transfer of SAR 174.7M reserve to retained earnings

02/05/2024 Argaam
Elm Co.headquarters

Elm Co. headquarters

Shareholders of Elm Co. approved transferring the statutory reserve balance amounting to SAR 174.70 million as of Dec. 31, 2023, to the retained earnings account.

 

The approval came during the extraordinary general meeting (EGM) held on May 1, according to a statement to Tadawul.

 

During the meeting, shareholders also authorized the board of directors to distribute interim dividends for 2024 on a semi-annual or quarterly basis.

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