Riyadh – Mubasher: Taiba Holding’s board invited shareholders to attend the extraordinary general meeting (EGM) on 12 April.

The EGM will vote on the board’s resolution to distribute cash dividends at SAR 0.40 for the fourth quarter of 2016, according to a bourse filing on Wednesday.

The eligibility of the dividends will be for the shareholders registered with the Securities Depository Center Company (the center) at the close of trading on the day of the meeting.

The meeting will vote on what was distributed in the first three quarters of 2016 at a value of SAR 180 million at SAR 1.2 per share of the actual profits.

The EGM will also discuss mandating the board to distribute interim cash dividends for 2017, as per the regulatory requirements, the statement said.

Moreover, the board’s report for the year which ended on 31 December also will be considered in the meeting.

Taiba posted a net profit of SAR 250 million in the twelve months of 2016, down 43% from SAR 436.9 million in 2015.