Riyadh – Mubasher: The ordinary general meeting (OGM) of Saudia Dairy and Foodstuff Company (SADAFCO) on Wednesday approved distributing 40% of capital as cash dividends for fiscal year 2016.

The company will pay SAR 4 per share to the entitled shareholders, with a total of SAR 130 million for FY16, according to a bourse filing issued on Thursday.

SADAFCO’s shareholders elected board members for the coming three years, starting from 1 April 2018 to 31 March 2021.

During the fourth quarter of 2016, the company posted a decline in profits to SAR 73.38 million from SAR 79.97 million in the same period a year ago.