Riyadh – Mubasher: The extraordinary general meeting (EGM) of Bawan on Wednesday approved the distribution of SAR 1.15 per share, or 11.5% of capital, in cash dividends for 2016, totalling SAR 699 million.
The EGM authorised the board of directors to distribute quarterly dividends for fiscal year 2017, according to a filing to the Saudi Stock Exchange (Tadawul) on Thursday.
It selected Mohamed Al Amri & Co to review the financial statements for the fiscal year ended 31 December 2017, including for the first quarter of 2018, the statement showed.
The EGM approved the board’s and auditor’s reports, as well as the financial statements of 2016.
The Saudi Company had previously reported an increase of 35.1% in its profits reaching SAR 119.1 million in 2016, compared to SAR 88.15 million in 2015.
By 11:20 am KSA time, the stock dropped 0.54% to SAR 18.45.