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Al Othaim Markets to discuss SAR 2/shr dividends for 2016

Al Othaim Markets to discuss SAR 2/shr dividends for 2016
(Photo archive)
A.OTHAIM MARKET
4001
-0.15% 13.00 -0.02

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Abdullah Al Othaim Markets will be held on 19 April.

The EGM will discuss the board’s recommendation to distribute cash dividends to shareholders for fiscal year 2016, according to a bourse filing on Sunday.

The proposed dividends stand at SAR 2 per share, representing 20% of the nominal value, and totalling SAR 90 million.

Shareholders of record until the close of trading on the EGM's day will be eligible for the dividends.

The company’s EGM will also vote on mandating the board to distribute interim profits for fiscal year 2017, the statement said.

The meeting will also tackle the board and auditor's reports for FY16.

As for the twelve months of 2016, the company achieved net profits of SAR 230.03 million, down by 0.37% from SAR 230.88 million in 2015.