Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Company for Glass Industries (Zoujaj) approved on Sunday the distribution of a cash dividend of SAR 0.75 per share for the first half of 2016.
The EGM agreed to transfer SAR 2.23 million, or 10% of the net profit, to the statutory reserve account, and to transfer the remaining SAR 18.25 million to the retained earnings account, according to the company's statement to the Saudi Stock Exchange (Tadawul).
The company also approved to mandate the board of directors to distribute cash dividends for fiscal year 2017.
Zoujaj’s net profit decreased by 51.6% to SAR 21.8 million during 2016, compared to SAR 45.1 million in 2015.
The company had distributed SAR 0.5 per share for H1-15, equivalent to 5% of the capital, totalling SAR 15 million.
