Riyadh – Mubasher: The shareholders of Al Fakhera for Mens Tailoring Company authorized the distribution of interim dividends for the 2026 fiscal year during a recent general assembly.
The assembly granted the new board the authority to distribute interim dividends on a semi-annual basis for the 2026 fiscal year.
This authorization provides the board with the flexibility to manage capital returns to shareholders more frequently, aligning with the company’s financial performance and cash flow throughout the year.
The investors also approved the election of a new Board of Directors for a four-year term at the Ordinary General Assembly meeting on 16 June 2025, according to a bourse filing.
The primary agenda item was the election of the Board of Directors for the upcoming session. Shareholders voted to appoint five members to lead the company from 18 June 2026 until 17 June 2030. The newly elected board comprises a mix of executive, non-executive, and independent directors, ensuring a balanced oversight structure.
Furthermore, shareholders approved the delegation of the Ordinary General Assembly’s powers regarding the licensing requirements stipulated in Paragraph (1) of Article 27 of the Companies Law.
This authorization allows the board to engage in certain activities as permitted by the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
Moreover, this mandate is valid for one year from the date of approval or until the end of the board's current term, whichever occurs first.
The successful conclusion of the General Assembly reflects strong shareholder confidence in Al Fakhera’s strategic direction and governance.
By electing a new board and establishing a framework for interim dividends, the company has solidified its operational and financial roadmap for the coming four-year cycle, reinforcing its position within the Saudi retail and tailoring sector.
