MARAFIQ shareholders approve transfer of SAR 342M to retained earnings

25/07/2024 Argaam

MARAFIQ shareholders approve transfer of SAR 342M to retained earnings

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) 

Shareholders of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) approved transferring the statutory reserve balance at SAR 342 million as per financial statements for 2023 to the balance of retained earnings.

This came during the extraordinary general meeting (EGM), held on July 24, according to a statement to Tadawul.
 

Shareholders also approved the board decision as regards H2 2023 dividends totaling SAR 275 million, at SAR 1.1 a share, or 11% of the stock nominal value, the statement added. 

 

All remaining items on the meeting’s agenda were also approved.

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