Riyadh – Mubasher: Saudi Airlines Catering invited shareholders to attend an extraordinary general meeting (EGM) on 17 April to approve the board’s recommendation for the distribution of cash dividends for 2016.

The board recommended dividends totalling SAR 537.1 million, representing 65.5% of the company’s capital.

Attendees will also vote on distributing semi-annual or quarterly annual dividends for fiscal year 2017, according to the company’s statement on the Saudi Stock Exchange (Tadawul) on Tuesday.

The company said it distributed cash dividends of SAR 1.75 per share for the first three quarters of 2016, and SAR 1.3 per share in Q4.

Saudi Catering’s profits dropped to SAR 541.14 million in 2016, compared to SAR 698.5 million in 2015, the company’s financial results showed.

The company’s stock ended Tuesday's trading session 0.5% higher to SAR 90.25 per share.