Riyadh – Mubasher: Al Taiseer Group Talco Industrial Company has announced the results of its Extraordinary General Assembly meeting held on 8 June 2026, where the shareholders approved a substantial cash dividend and a significant broadening of the company’s operational mandate, according to a bourse filing.
The shareholders approved the Board of Directors' recommendation to distribute SAR 72 million in cash dividends for the fiscal year ended on 31 December 2025. This distribution represents SAR 1.80 per share, equivalent to 18% of the stock’s nominal value.
Eligibility for the dividend was confirmed for shareholders owning stock at the close of trading on the day of the assembly and registered with the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date.
The company has scheduled the disbursement of these dividends to begin on 16 June 2026.
In addition to the dividend approval, the assembly ratified the financial statements and the auditor’s report for the 2025 fiscal year.
Shareholders also voted to discharge the members of the Board of Directors from liability for the previous year.
To oversee the upcoming financial periods, the assembly approved the appointment of PricewaterhouseCoopers (PwC) as the company’s external auditor. PwC will be tasked with reviewing and auditing the financial statements for the second, third, and fourth quarters of 2026, as well as the first quarter of 2027, for a total professional fee of SAR 940,000 excluding value-added tax.
A pivotal outcome of the meeting was the approval of an amendment that signals a strategic diversification of the company’s business model. The expanded scope now includes the manufacturing of precious and non-ferrous metals, the production of industrial windows and doors, and the manufacturing of wood and aluminum kitchens.
Furthermore, the company is now authorized to engage in land freight transport, the production of plastic products, pre-cast concrete manufacturing, and the production of paints and varnishes.
The new objectives also extend into service sectors such as real estate management, private security, facility support, and higher education.
The assembly also addressed corporate governance regarding related party transactions. Shareholders ratified ten separate lease agreements for the 2026 fiscal year between TALCO and Ral Investment Company, a closed joint-stock company. These contracts involve direct interests for Board Chairman Mansour bin Kamil Al Fattouh and Vice Chairman Nasser bin Kamil Al Fattouh Al Balawi. The agreements, which total SAR 1.85 million in value, cover the rental of commercial showrooms, warehouses, workshops, and labor housing. The company emphasized that these transactions were conducted on an arm’s length basis without any preferential conditions.
Finally, the assembly approved the payment of SAR 2.17 million in remuneration to the members of the Board of Directors and its various committees for the 2025 fiscal year, following a recommendation from the Remuneration and Nominations Committee.
The shareholders meeting was attended by key board members, including Chairman Mansour bin Kamil Al Fattouh and the heads of the Audit and Remuneration committees, ensuring a comprehensive review of the company's governance and strategic direction.
In May 2026, Al Taiseer Group Talco penned an agreement with the National Energy Services Company (Tarshid) to develop a solar energy project.
