Riyadh – Mubasher: The extraordinary general meeting (EGM) of Jarir Marketing on Wednesday approved the stoppage of retaining 10% of its net profits to form a statutory reserve, after reaching 32.94% of capital.
The meeting also agreed on what was distributed as dividends for 2016 at SAR 7.3 per share, representing 73% of the capital.
The EGM also voted on mandating the company's board to distribute dividends to shareholders for the year 2017, according to a bourse filing.
Profits went down 10.94% to SAR 737.9 million in 2016, compared to SAR 828.5 million in 2015.
The stock ended Wednesday at SAR 128.33 with a 0.56% increase.
