Riyadh - Mubasher: United International Transportation Company (Budget Saudi Arabia) will start the distribution of cash dividends for 2016 on 2 May.

The company will pay out dividends at SAR 1.25 per share or 12.5% of the par value, totalling SAR 76.25 million, according to a bourse filing.

The company noted that the distribution will be through Riyad Bank for eligible registered shareholders at the end of trades on the extraordinary general meeting’s (EGM) day on 19 April.

Earlier in April, Budget’s EGM had approved the distribution of cash dividends for 2016.