Riyadh - Mubasher: The extraordinary general meeting (EGM) of Saudi Arabian Fertilizer Company (SAFCO) approved on Wednesday the distribution of cash dividends for the second half of 2016.
Dividends will be distributed at SAR 1, or 10% of the par value, totalling SAR 416.67 million.
Distribution will take place on 12 April to shareholders at the end of trading on the day of the EGM, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Thursday.
Dividends for H2-16 worth SAR 625 million had been distributed at SAR 1.5 per share, representing 15% of the share’s par value.
The company’s board of directors also approved transferring SAR 735.28 million from the statutory reserve surplus and SAR 45.12 million from the general reserve to the retained earnings account, the statement pointed out.
The EGM also voted on the board and auditor’s reports for 2016.
