Riyadh – Mubasher: Saudi Airlines Catering Company’s board of directors proposed cash dividends at 17.5% of the share’s par value of SAR 1.75 for the first quarter of fiscal 2016, totalling SAR 143.5 million.
The dividend eligibility will be for shareholders registered till the end of trading of 19 May.
Dividends will be deposited into shareholders' accounts as of 8 June through Saudi British Bank (SABB), according to a bourse filing released on Tuesday.
Last Thursday, the company’s extraordinary general meeting (EGM) gave the board of directors the green light to distribute quarterly or half-year dividends in 2016.
The company earlier posted a net profit of SAR 141.6 million for the first quarter of 2016, 15% down from SAR 167.4 million in Q1-15.
The stock fell yesterday by 1.75% to SAR 99.16.
