Aldrees’s shareholders to vote on 10% dividend March 5

Aldrees Petroleum and Transport Services Co.’s shareholders will vote on the board’s proposal for a 10 percent cash dividend, to be issued at SAR 1 per share for the fiscal year 2017 on March 5, 2018, the company said in a bourse statement.

The dividend will total SAR 50 million, and will be distributed to eligible shareholders registered at the Security Depository Center on the second day after the due date, to be determined later on by the company.

Shareholders will also review the board's report, financial statements and external auditor’s report for the fiscal year 2017.

The general assembly will vote on board remuneration at SAR 200,000 for each board member and the discharge of board members from liability for their activities.

Aldrees will also hire an external auditor for the current fiscal year.