Eastern Cement shareholders OK transfer of SAR 430M reserve to voluntary reserve

06/05/2024 Argaam
Logo ofEastern Province Cement Co.

Logo of Eastern Province Cement Co.

Shareholders of Eastern Province Cement Co. approved the transfer of statutory reserve balance of SAR 430 million, as per financial statements for 2023, to the voluntary reserve account, to support the company’s financial position.

 

The decision came during the extraordinary general meeting (EGM) held on May 5, according to a statement to Tadawul.

 

Shareholders also approved to authorize the board of directors to distribute interim dividends for 2024 on a semi-annual or quarterly basis.

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