Riyadh – Mubasher: Batic Investments and Logistics Co’s shareholders on Tuesday approved the board’s recommendation to distribute 25 halalas per share, representing 2.5% of the par value, as cash dividends for the first quarter of 2017.

The total value of dividends amounts to SAR 6 million, and the dividends will be paid starting 20 June through Al Rajhi Bank, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday.

Shareholders registered by the end of the second trading day following the record date will be entitled to the dividends, the statement added.

Shareholders also authorised the board to distribute quarterly dividends, specifying the eligibility and distribution dates according to regulatory procedures.

Batic’s profits slid 39.21% to SAR 9.3 million in Q1-17 from SAR 15.3 million in Q1-16.

By 10:08 am KSA time, Batic’s stock stood at SAR 52, after losing 0.21%.