Riyadh – Mubasher: Middle East Paper (MEPCO) decided to pay out its FY15 cash dividends starting from 24 July, said the company in a bourse filing

Earlier, the ordinary general meeting approved distributing cash dividends at SAR 0.5 per share, or 5% of capital, totaling SAR 25 million, for the fiscal year 2015.

Shareholders of record until 26 June would be entitled to the dividends that will be deposited by Banque Saudi Fransi in their local banking accounts, according to the filing.

During 2015, MEPCO earnings declined 50.5% year-over-year to SAR 55.12 million from SAR 111.34 million.

The company operates with SAR 500 million, divided into 50 million shares at SAR 10 each, according to a bourse filing.