Saudi Chemical shareholders approve annual reports for FY17

Saudi Chemical Co.’s general assembly approved audited financial statements and audit report for the fiscal year that ended Dec. 31, 2017.

Shareholders also approved the board report for the same period and discharged board members from liabilities during FY 2017, the company said in a bourse statement.

During the meeting, the approved dividend distributed for FY 2017 and delegated the board members to distribute dividend for FY 2018 on a quarterly or semiannual basis.

They also approved all other items on the agenda, including appointing an external auditor, related party transactions and board remuneration for FY 2017.