Riyadh – Mubasher: SHL Finance Company has announced the successful conclusion of its Ordinary General Assembly meeting, where shareholders approved a cash dividend distribution of SAR 50 million for 2025.
The meeting, held virtually from the company’s Riyadh headquarters on 22 June 2026, saw a high turnout with a 90.70% attendance rate.
Beyond the dividend approval, the assembly ratified the company’s financial statements, discharged the Board of Directors from liability, and authorized a series of significant related party transactions involving major financial institutions and real estate entities.
The approved dividend of SAR 50 million represents a payout of SAR 0.50 per share, equivalent to 5% of the company’s nominal share value.
Eligibility for the distribution is set for shareholders owning stock at the close of trading on the day of the assembly, with the actual disbursement scheduled to commence on 9 July.
In a move to provide further flexibility for future returns, shareholders also authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for 2026.
A substantial portion of the assembly’s agenda focused on the ratification of business contracts involving related parties. Among the most significant were transactions with Arab National Bank (ANB), in which board member Obaid Abdullah Al-Rasheed holds an indirect interest.
These included Islamic Tawarruq financing facilities totaling SAR 1.80 billion as of year-end 2025, incurring financing costs of SAR 124 million based on SAIBOR plus a profit margin. Additionally, the assembly approved administrative service fees and deferred contract fees related to mortgage assets sold to ANB.
The assembly also addressed dealings with Dar Al Arkan Real Estate Development Company and Tharawat Real Estate Assets Company, involving Chairman Yousef Abdullah Al Shelash.
These transactions included the purchase of residential units valued at SAR 2.29 million to facilitate customer financing and office lease agreements in Riyadh totaling SAR 2.18 million.
Furthermore, shareholders approved Murabaha deposits with Alkhair Capital and a SAR 100 million credit facility for Quara Finance, both of which are linked to the Chairman’s indirect interests.
In terms of governance and oversight, the assembly approved the appointment of Deloitte and Touche – Bakr Abulkhair & Co. as the company’s external auditor.
The firm will be responsible for reviewing the financial statements for the second and third quarters of 2026, the full 2025 fiscal year, and the first quarter (Q1) of 2027, for a total fee of SAR 1.12 million.
Remuneration for the 2025 fiscal year was also finalized, with SAR 2.673 million allocated for the Board of Directors and SAR 1.857 million for various board committees.
The assembly concluded with the approval of Shariah consultancy services provided by the office of Yousef bin Abdullah Al Shubaily, ensuring the company’s continued compliance with Islamic finance standards.
