Riyadh – Mubasher: Saudi Electricity Company (SEC) on Tuesday announced that its shareholders had approved distributing a cash dividend of 70 halalas per share for fiscal year 2017 during an ordinary general meeting (OGM) held in the previous day.
Total distributions will amount to SAR 547 million, representing 7% of SEC’s capital, the Saudi state-run utility noted.
Shareholders of SEC’s shares at the end of trading on Monday, 25 June 2018 and registered with the Securities Deposit Center Company at the end of the second day of trading following the maturity date will be entitled to the distributions.
The cash dividend will be paid to shareholders on Tuesday, 17 July 2018, through the Saudi National Commercial Bank (NCB), according to SEC’s statement to the Saudi Stock Exchange (Tadawul).
The OGM also approved the board and auditor reports, in addition to approving its agenda.
SEC last reported turning to losses after suffering SAR 1.2 billion during the first three months of 2018, against generating a profit of SAR 4.9 billion in Q1-17.
By 10:34 am Saudi time, the stock fell 2.58% to SAR 21.12.
