Al Othaim Markets approves 20% dividend, contracts for 2016

Abdullah Al Othaim Markets Co.’s extraordinary general assembly on April 19 approved a 20 percent cash dividend of SAR 90 million (SAR 2 per share) for 2016, the company said in a statement to Tadawul on Thursday.

Shareholders also approved leasing contracts with Al Othaim Holding Co, valued at SAR 3.8 million, contracts with Abdullah Al Othaim Real Estate Investment and Development Co. worth SAR 49.8 million, as well as a land investment contract with General Organization of Social Insurance for an annual amount of around SAR 5.6 million.

They also approved the board of director’s recommendation to sell the 65,110 square meters shopping mall in Hail city to Abdullah Al Othaim Real Estate Investment and Development Co. for around SAR 361.3 million, and approved leasing a 4,680 square meters shopping mall for an annual rent of SAR 2 million for 20 years to the same company.