Riyadh – Mubasher: Scientific & Medical Equipment House Company, known as Equipment House, announced that its shareholders ratified a SAR 30 million dividend payout and approved a significant volume of related party transactions, according to a bourse filing.
The company convened its Ordinary General Assembly on 16 June 2026, during which the investors addressed the financial performance for the 2025 fiscal year and set the framework for its operational and governance activities for the upcoming period.
The shareholders reviewed and approved the board of directors’ report and the financial statements for the 2025 fiscal year.
This was accompanied by the formal discharge of board members from liability for the same period, a key highlight of the meeting was the approval of SAR 1.547 million remuneration package for the board of directors in recognition of their services during 2025.
The assembly confirmed a dividend distribution of SAR 1 per share, representing 10% of the nominal value.
Eligibility for these dividends was established for shareholders registered at the end of the assembly day, with the distribution process scheduled to begin on 6 August 2026.
To ensure financial oversight for the coming year, the company appointed the accounting firm of Turki Abdul Mohsen Al Luhayid and Saleh Abdullah Al Yahya as external auditors for a fee of SAR 510,000. Their mandate covers the review of financial statements for the second (Q2) and third quarters of 2026, the annual audit for 2026, Q1-27.
A significant portion of the assembly focused on the ratification of related party transactions conducted during 2025.
The largest single contract approved was with Wareed Medical Industries for the construction of a factory, valued at SAR 10 millon. This project involves comprehensive civil, structural, architectural, mechanical, and electrical works.
Other substantial contracts included labor leasing and construction services for Rawabi International Marketing totaling nearly SAR 6.8 million.
This is in addition to technical support services from Rawabi Smart Services and Devices valued at SAR 3.79 million, which includes the maintenance of the company's SAP computer systems and network infrastructure.
The assembly also approved multiple lease and labor agreements with the National Sulfur Products Company, the German Metal Surface Treatment Chemicals Company, and Deera Al-Ammar Real Estate. These agreements included the leasing of the company's building on Prince Abdulaziz bin Jalawy Street and residential units on King Fahd Road.
Furthermore, a SAR 3.64 million contract for electrical consumables with Ardh Al Ittihad Trading was ratified.
Company management emphasized that all these transactions were executed at prevailing market rates without any preferential terms, ensuring transparency and protecting shareholder interests.
In a move related to corporate governance, the assembly authorized Chairman Basil bin Saud Al Arifi, Vice Chairman Bandar bin Saud Al Arifi, and Director Barakat bin Saud Al Arifi to participate in businesses that may compete with the company's activities.
The board was also granted general assembly powers under the Saudi Companies Law for a period of one year.
These comprehensive approvals, combined with the significant investment in infrastructure through related party contracts, indicate a strategic focus on leveraging integrated group capabilities to drive the company’s operational growth and maintain its market position in the scientific and medical equipment sector.
The dividend confirmation further signals a stable financial position as the company moves forward into the 2026 fiscal year.
Earlier in June, Scientific & Medical Equipment House received a project award at a value of SAR 61.81 million for Tabuk medical establishment.
