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Astra to pay SAR 0.5/shr dividends for 2016

Astra to pay SAR 0.5/shr dividends for 2016
(Photo Credit: Arabianeye-Reuters)
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Riyadh – Mubasher: The ordinary general meeting (OGM) of Astra Industrial Group approved the distribution of cash dividends to shareholders for 2016.

The company will pay dividends at SAR 0.50 per share, totalling SAR 40 million and representing 5% of the nominal value, according to a bourse filing on Wednesday.

Shareholders of record at the end of trades of the meeting’s day and on the following day of the eligibility date, which will be on 6 June, would be entitled to the dividends.

The OGM also agreed on amending the company’s bylaws to be in line with the New Companies Law, the statement said.

The board's and auditors’ reports for 2016 were also considered in the meeting.

Net profits surged 573.5% to SAR 45.2 million in 2016 from SAR 6.7 million in 2015.