Riyadh – Mubasher: The Saudi Arabian Fertilisers Company's (SAFCO) board invited shareholders to attend the extraordinary general meeting (EGM) on 29 March.
The EGM will discuss the distribution of cash dividends for 2016 at SAR 2.5 per share.
The dividend eligibility for the second half of 2016 at SAR 1 per share will be for shareholders registered until the end of trading on the day of the EGM, according to a bourse filing on Thursday.
SAFCO distributed 15% cash dividends or SAR 1.5 a share to shareholders for H1-16, with a total value of SAR 625 million.
The meeting will vote on transferring SAR 735.28 million from the regulatory reserves' surplus and SAR 45.12 million from the general reserves' account to the retained earnings, the statement said.
The EGM will also discuss the board's report on the fiscal year which ended on 31 December 2016.
The Saudi-listed company's net profits dropped 50.65% to SAR 1.05 billion in 2016 from SAR 2.13 billion in 2015.
