Riyadh – Mubasher: Al Yamamah Steel Industries Co’s board of directors will discuss the dividends that were distributed during the full year 2017 on Tuesday, 6 March.

The metal products manufacturer distributed SAR 1.5 dividends last year, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm’s ordinary general meeting (OGM) will discuss paying SAR 200,000 remuneration for each board members for the fiscal year ended 30 September 2017, bringing total remuneration worth SAR 1.4 million.

Al Yamamah Steel’s OGM will also discuss the board, the auditor reports’, the financial statements for the financial year ended 30 September 2017, in addition to voting on members’ acquaintance for the financial year, and appointing an auditor.

On 22 January, the firm’s board decided to distribute SAR 25.4 million in cash dividends, SAR 0.5 per share, for the second half of 2017.

Al Yamamah Steel distributed SAR 50.8 million, SAR 1 per share, for H1-17.

The company’s net profits retreated SAR 42.9% to SAR 103.7 million in the fiscal year ended 30 September 2017, from SAR 181.5 million in the same period a year earlier.

By 10:22 am KSA time, the stock rose 1.26% to SAR 22.50.