Riyadh – Mubasher: The extraordinary general meeting (EGM) of Arriyadh Development approved the distribution of cash dividends for the second half of 2016.
The company will pay SAR 0.80 per share, representing 8% of the stock’s par value and totalling SAR 106.67 million.
The Saudi-listed firm will start distributing the dividends on 20 April to the shareholders of record at the end of trading on the EGM's day, according to a bourse filing on Thursday.
The EGM also agreed on mandating the board to distribute interim cash dividends for fiscal year 2017.
Moreover, the meeting approved the board's report for FY16 and the firm's amended bylaws.
Net profits during FY16 shrank 11% to reach SAR 261.8 million from SAR 294.4 million in FY15.
