Riyadh – Mubasher: The board of directors of National Gas & Industrialization Co. (GASCO) recommended the distribution of cash dividends for the first quarter of 2016 at SAR 22.5 million, or SAR 0.30 per share (3% of stock par value), the company said in a bourse filing Tuesday.
Shareholders of record till the close of trading on 31 March will be entitled to the dividend payout. Distribution will be effected on 17 April.
The company will convene an ordinary general meeting on 30 March to endorse FY15 dividend distribution at SAR 1.40 per share, or 14% of capital, totalling SAR 105 million.
The gas firm earlier reported SAR 40 million net profit for Q4-15, up 10.5% year-on-year from SAR 36.5 million.
