Riyadh-Mubasher: Filing and Packing Materials Manufacturing Co. (FIPCO) has postponed its ordinary general meeting which was scheduled for Wednesday, due to lack of quorum, the company said in a bourse statement.
Accordingly, the record date for cash dividends and bonus share distribution was also postponed.
Shareholders were scheduled to discuss increasing capital by 40% to SAR 161 million from SAR 115 million, through a two-for-five bonus share distribution.
In addition, they were to look into the board's recommendation on paying cash dividends for 2015 at SAR 1 a share, totalling SAR 11.5 million.
The company posted net earnings of SAR 13 million for 2015, falling 46% compared with SAR 24 million in 2014.
The stock rose 1.58% to SAR 34 on Wednesday.
