Riyadh – Mubasher: The extraordinary general meeting (EGM) of Middle East Paper Co (MEPCO) approved the distribution of cash dividends for 2016.
The company will pay dividends at SAR 0.75 per share, totalling SAR 37.5 million and representing 7.5% of the nominal value, according to a bourse statement on Wednesday.
Shareholders of record at the end of the trading day of the EGM and who are registered at the following day of trades will be entitled to the dividends.
The distribution will start within 15 working days from the EGM’s day.
Furthermore, the board’s and auditors’ reports for 2016 were approved, the statement said.
The company posted profits worth SAR 79.85 million in 2016 from SAR 55.12 million, with a 44.88% hike.
