Retal approves transfer of SAR 91.2M statutory reserve to retained earnings

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Retal Urban Development Co.’s board of directors approved, on April 13, the transfer of SAR 83 million from the statutory reserve, based on the financial statements ended Dec. 31, 2024, to retained earnings, according to a statement to Tadawul.

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Additionally, the board approved the transfer of SAR 8.16 million from the reserve for changes in ownership shares of a subsidiary, based on the 2024 financials, to retained earnings.

The recommendations were based on the issuance of the 2024 annual financial statements, as the general meeting related to the transfer of reserves for 2023 was not held.

In December 2024, Retal’s board recommended the transfer of the statutory reserve balance and the reserve balance for change in ownership shares amounting to SAR 91.2 million to retained earnings, Argaam data showed.