The ordinary general meeting of National Drilling Co. ratified the board and auditors’ reports on the fiscal year ending December 31, 2013, in addition to the financial statements, balance sheet for the same FY.
The meeting approved the proposed dividend for proposed dividend.
The company will distribute dividend for FY09 from retained earnings amounting to $75,679, in addition to the distribution of FY10 dividend at 50% maximum of realized earnings, as per available liquidity. The remaining portions of earnings for FY10, FY11, FY12 and FY13 will be carried out to next year.
National Drilling posted a 69.55% fall in net profit to $3.215 million, compared with $10.558 million a year earlier.