SAPTCO approves 5% dividend for FY16

Saudi Public Transport Co. (SAPTCO) shareholders have approved a 5 percent cash dividend (SAR 0.50 per share) for fiscal year 2016, totaling SAR 62.5 million, the company said in a statement to Tadawul.

Shareholders of record on the general meeting date are entitled to receive the dividend.

SAPTCO’s general assembly also approved the board of directors’ report, an audit report, and all financial statements for 2016, the Saudi transport services provider added.

Moreover, shareholders endorsed SAR 1.8 billion in board bonuses for 2016, discharged board members from liability associated with their activities last year, and approved the selection of an external auditor for 2017.