Makkah Construction approves 25% dividend for FY 2016-17

Makkah Construction and Development Co.’s shareholders have approved a 25 percent cash dividend (SAR 2.5 per share) for the fiscal year ended Jan. 28, 2017.

During the firm’s ordinary general meeting on Sunday, shareholders also approved transferring SAR 100 million from statutory reserve (the surplus amount exceeding 30 percent of capital) to the retained earnings account.

In addition, the assembly elected board members for the upcoming three-year term that will start in August 2017.