Riyadh – Mubasher: The board of directors of Taiba Holding Company approved distributing a cash dividend representing 4% of its capital at 40 halalas per share, totalling SAR 60 million for the first quarter of fiscal year 2017.

The dividends will be paid to shareholders at the end of the trading session on 30 April, while the distribution date will be determined at a later date, Taiba said in a filing to the Saudi Stock Exchange (Tadawul) on Thursday.

The OGM approved distributions of the same value for the fourth quarter of 2016, to be distributed within two weeks to shareholders at the end of the trading day of the OGM.

Taiba posted SAR 250.1 million in net profits in 2016, down 42.88% from SAR 436.9 million in 2015.

By 11:30 am Saudi time, Taiba’s stock traded down 0.22% to SAR 45.30.