SAFCO approves 25% dividend for FY 2016

30/03/2017 Argaam

Saudi Arabia Fertilizers Company’s (SAFCO) extraordinary general assembly has approved a 25 percent cash dividend (SAR 2.5 per share) for fiscal year 2016, amounting to SAR 1.041 billion, the company said in a statement to Tadawul on Thursday.

 

Shareholders also approved a 10 percent cash dividend to be issued at SAR 1 per share for the second half of 2016.

 

SAFCO had already issued a 15 percent dividend amounting to SAR 625 million for H1 2016 (SAR 1.5 per share).

 

The extraordinary general assembly also approved transferring SAR 735 million from the surplus of statutory reserves and SAR 45 million from general reserves to retained earnings. 

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