Riyadh – Mubasher: Alramz Real Estate Company has announced the results of its Extraordinary General Assembly meeting held on 11 June 2026, where shareholders approved a significant cash dividend distribution and a comprehensive restructuring of the company’s internal governance framework.
The company approved the Board of Directors' recommendation to distribute SAR 75 million in cash dividends for the fiscal year ended on 31 December 2025. This distribution represents 17.5% of the company’s capital, according to a bourse filing.
The company confirmed that the disbursement process is scheduled to commence on 23 June 2026.
Meanwhile, this amount translates to a payout of SAR 1.75 per share. Eligibility for these dividends was granted to shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the assembly date.
In a move to provide greater flexibility for future shareholder returns, the assembly authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year. This authorization aligns with the company’s broader strategy to maintain consistent value delivery to its investors.
The assembly also addressed several key governance and financial oversight matters. Shareholders reviewed and approved the Board of Directors’ report, the auditor’s report, and the financial statements for the 2025 fiscal year.
Consequently, the members of the Board were discharged from liability for their management during that period.
For the upcoming financial periods, PKF Al Bassam and Company was appointed as the external auditor to review the quarterly and annual financial statements for 2026 and the first quarter (Q1) of 2027, with a total fee set at SAR 679,000.
Additionally, a remuneration of SAR 500,000 was approved for the Board of Directors for the 2025 fiscal year.
Significant attention was given to related party transactions involving entities in which Chairman Rashid Abdulrahman Al Rashid, Managing Director and CEO Haroon Rashid Al Rashid, and Board Member Abdulmalik Rashid Al Rashid hold indirect interests.
The assembly ratified contracts with Meshkati Trading for electrical supplies, Tafweedh Construction Materials for concrete products, Majed Abdulrahman Al Rashid Professional Consulting for legal services, and Mabna Al Majd Investment for financing.
The company noted that these transactions, totaling over SAR 4 million in 2025, were conducted under standard commercial terms without preferential treatment.
Beyond financial distributions, shareholders approved an extensive overhaul of the company’s Articles of Association. The amendments include changes to the company’s name, share trading regulations, and the introduction of new articles governing debt instruments and financing Sukuk.
The updated bylaws also emphasize enhanced transparency, with new provisions requiring the disclosure of interests in contracts and competition with the company’s business.
Furthermore, the assembly approved the Board’s recommendation to redefine the utilization of IPO proceeds, amounting to SAR 553.05 million, to be fully directed toward the expansion of the company’s business operations as outlined in its 2025 prospectus.
Foreign non-resident investors were reminded that cash dividends transferred through resident financial brokers are subject to a 5% withholding tax in accordance with Saudi Arabian tax regulations.
The company urged all shareholders to ensure their bank account details are correctly linked to their investment portfolios to facilitate the timely receipt of payments.
