Riyadh – Mubasher: The extraordinary general meeting (EGM) of Baazeem Trading approved the distribution of cash dividends for 2016.

The company will pay dividends at SAR 1.70 per share, totalling SAR 17.2 million and representing 17% of the nominal value, according to a bourse statement on Tuesday.

Shareholders of record at the end of the trading day on 22 May and who are registered in the Securities Depository Center (Edaa) on the following day of trades will be entitled to the dividends.

The dividends will be deposited in the shareholders’ accounts on 4 June, the statement said.

The assembly also agreed on the unified financial statements and the auditors’ reports for 2016.

During 2016, Baazeem’s profits fell 10.11% to SAR 33.2 million from SAR 36.91 million in FY15.