Jazan approves 5% dividend for FY16

03/05/2017 Argaam

Jazan Development Co.’s shareholders on Tuesday approved a 5 percent cash dividend at SAR 0.50 per share for the fiscal year 2016, totaling SAR 25 million.

 

This is the first time Jazan will pay dividend since 2008.

 

The extraordinary general assembly also approved a remuneration of SAR 100,000 for each board member for fiscal year 2016.

 

In addition, shareholders approved extending investment portfolio contracts with Aloula Geojit Capital for an additional year.

 

Cash Dividend for FY16

Current capital

SAR 500 mln

Number of shares

50 mln

Cash dividend

SAR 25 mln

Percent capital

5% (SAR 0.50/share)

Record date

May 4

Payment day

To be announced later

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