Riyadh – Mubasher: The extraordinary general meeting (EGM) of Red Sea Housing Services approved on Sunday the distribution of divdends representing 7.5% of capital at 75 halalas per share for fiscal year 2016.
Total distributions amount to SAR 45 million, and will be distributed among shareholders of record by the end of the EGM’s day and shareholders registered by the end of the second trading day following the maturity date, according to a filing to the Saudi Stock Exchange (Tadawul).
Profits will be distributed on 31 May through the National Commercial Bank (NCB).
Shareholders also approved the board’s and auditors’ reports, and financial statements for FY16.
The Saudi housing company’s profits rose 15.64% to reach SAR 88 million in 2016, from SAR 76.1 million in 2015.
Red Sea Housing Services’ stock closed on Sunday at SAR 24.60, after gaining 0.45%.
