Riyadh – Mubasher: United Wire Factories Co (Aslak) topped the worst performers during Monday’s session, after the general assembly’s decision regarding dividends’ payout for the second half of 2016.
The stock fell 1.8% to SAR 22.50, by 12:55pm KSA time.
Aslak achieved traded volume of 142,000 shares at a total value of SAR 3.23 million, through 357 transactions.
Meanwhile, the Saudi Stock Exchange (Tadawul) shed 0.27% or 16.52 points to reach 6,654.48
The extraordinary general meeting (EGM) of the company approved the distribution of cash dividends for the second half of 2016 of 6.5% of the nominal value at SAR 0.65 per share, totaling SAR 28.5 million.
The distribution will start on 10 April to the shareholders of record until the close of trading on the EGM's day.
Aslak posted SAR 11.3 million net profits in the fourth quarter of 2016, with a decrease of 6.61% year-on-year from SAR 12.1 million.
