Riyadh – Mubasher: The Saudi Company for Hardware (SACO) has announced the results of its Ordinary General Assembly meeting held on 17 June 2026, during which the shareholders approved the election of a new Board of Directors for the upcoming three-year cycle, the appointment of an external auditor, and the authorization of interim dividend payments for the 2026 fiscal year.
In addition to the board elections, shareholders reviewed and discussed several key financial and administrative reports, according to a bourse filing.
The assembly formally approved the Board of Directors’ report, the consolidated financial statements, and the auditor’s report for the 2025 fiscal year.
Following these reviews, the assembly moved to discharge the members of the Board of Directors from liability for their management during the 2025 fiscal year.
Shareholders also approved a total remuneration of SAR 1.80 million to be distributed among board members for their services during the 2025 period.
Regarding future financial oversight, the assembly approved the appointment of KPMG as the company’s external auditor. The firm has been tasked with the examination and auditing of the second (Q2) and Q3 of the 2026 fiscal year, the full-year 2026 financial statements, and Q1-27. The total fee for these professional services was set at SAR 1.35 million excluding value-added tax.
A significant resolution for investors was the approval to delegate authority to the Board of Directors to distribute interim dividends. This authorization allows for the payment of dividends on either a semi-annual or quarterly basis for the 2026 fiscal year, providing the board with the flexibility to manage shareholder returns in alignment with the company’s financial performance throughout the year.
