Riyadh – Mubasher: Red Sea Housing Services Company announced on Sunday that its ordinary general meeting (OGM) will be held on 20 April.
The OGM will discuss a proposal to distribute cash dividends at 7.5% or 75 halalas per share for the fiscal year 2015, totalling SAR 45 million, according to a bourse filing.
The dividend eligibility will be for shareholders registered by the end of trading on the date due to be set for general meeting.
The company’s shareholders earlier approved cash dividends at 10% of the capital or SAR 1 per share for the fiscal year 2014, totalling SAR 60 million.
Red Sea Housing’s profit declined last year by 51.4% to SAR 76.1 million from SAR 156.7 million in 2014.
The company’s stock rose in today’s trading by 0.55% to SAR 25.70.
