Riyadh – Mubasher: The ordinary general meeting (OGM) of City Cement Co approved the distribution of cash dividends to shareholders for the second half of 2016.
The company will distribute 2.5% dividends or SAR 0.25 per share for H2-16, totalling SAR 47.3 million.
The meeting agreed on what was distributed for H1-16 at 7.5% of capital or SAR 0.75 per share, totalling SAR 141.9 million.
The EGM voted on the board and auditor's reports for the financial year ended on 31 December, adding to mandating the board to distribute interim profits for 2017, according to a bourse filing on Thursday.
City Cement also approved appointing Al Kharashi and Co Certified Accountants and Auditors to audit and review the company’s financial statements for 2017.
The company generated net profits of SAR 215.04 million in 2016, a decrease of 11.1% from SAR 241.86 million in 2015.
