Riyadh – Mubasher: Group Five Pipe Saudi Company has announced the successful conclusion of its Ordinary General Assembly meeting, where shareholders approved a substantial cash dividend distribution totaling SAR 120.40 million for the fiscal year ended on 31 December 2025.
The meeting also saw the ratification of the company’s financial statements, the appointment of external auditors, and the discharge of board members from liability for the previous fiscal year, according to a bourse filing.
The Ordinary General Assembly was convened on 14 June 2026, witnessing a primary highlight the approval of the Board of Directors' recommendation regarding dividend payouts. Shareholders sanctioned a distribution of SAR 4.30 per share as dividend for 2025. This payout represents 43% of the share’s nominal value.
Eligibility for these dividends is restricted to shareholders registered in the company’s records at the Securities Depository Center (Edaa) by the close of trading on the day of the General Assembly. The company confirmed that the disbursement process will commence within 15 business days following the eligibility date.
Beyond the dividend declaration, the assembly reviewed and discussed the Board of Directors' report and the company’s audited financial statements for the 2025 fiscal year.
Following these discussions, shareholders approved the independent auditor’s report for the same period and officially discharged the members of the Board of Directors from their liabilities related to the 2025 fiscal year.
In matters of corporate oversight and auditing, the assembly approved the appointment of RSM Allied Accountants for Professional Consultations as the company’s external auditor.
Selected from among several candidates based on the Audit Committee’s recommendation, RSM is tasked with reviewing and auditing the financial statements for the first half (H1) and full year of 2026, as well as H1-27. The total professional fees for these services were set at SAR 440,000, excluding value-added tax (VAT).
Furthermore, the shareholders approved the disbursement of SAR 560,000 in remuneration to the members of the Board of Directors for their services during the 2025 fiscal year. This move aligns with the company’s internal policies regarding executive and board compensation.
By securing approval for both the financial results and the dividend policy, Group Five Pipe Saudi continues to demonstrate its commitment to transparent governance and the delivery of shareholder value. The proceedings conclude the formal reporting cycle for the 2025 fiscal year as the company moves forward with its operational and financial objectives for 2026.
