Riyadh – Mubasher: The board of directors of Qassim Agriculture Company on Monday approved the distribution of dividends at 25 halalas per share for the first quarter of 2017.

Total distributions amount to SAR 7.5 million, and will be distributed among registered shareholders by the end of the second trading day following the maturity date on 4 July, according to a filing to the Saudi Stock Exchange (Tadawul).

The company’s profits slid 99.78% to SAR 206,183 in Q1-17, from SAR 95.31 million in Q1-16.

Qassim’s extraordinary general meeting (EGM) approved the board’s recommendation to decrease the capital by 40% to SAR 300 million from SAR 500 million, at SAR 2.5 per share, to offset accumulated losses.