Alujain’s board recommends 10% cash dividend for 2021, announces policy for 2022, 2023

Alujain Holding Corp.’s board of directors recommended, in a meeting held on Oct. 28, distributing a 10% cash dividend, or SAR 1 per share, for 2021, according to a bourse statement.

According to data available with Argaam, this will be the first time since 2016 for Alujain to distribute dividend.

In a separate statement, the company said its board of directors approved the dividend policy for 2022 and 2023, during a meeting on Oct. 28.

The policy will be presented for shareholders’ approval in the next general assembly meeting, the date for which will be announced later.

According to the dividend policy, Alujain aims to distribute a minimum of SAR 1 per share, equivalent to 10% of the paid-in capital, for 2022 and 2023.

The dividends policy remains subject to change based on any material changes in the strategy and business of the company, increase in the company's future investments and projects, or any current or future commitments to financial entities.

The company also aims, through this policy, to balance cash dividends and continue to support its investments in proportion to the expected growth and business expansion.