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MEPCO nods to SAR 37.5m dividends for 2017

MEPCO nods to SAR 37.5m dividends for 2017
The dividend payment date will be specified later
MEPCO
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Riyadh – Mubasher: Saudi Arabia-based Middle East Paper Co’s (MEPCO) on Monday announced that its shareholders had approved its agenda which includes distributing a cash dividend of 75 halalas per share for the full fiscal year of 2017, during an extraordinary general meeting (EGM) held the previous day. 

Total distributions amount to SAR 37.5 million, representing 7.5% of the capital, according to a statement to the Saudi Stock Exchange (Tadawul).

The dividend payment date will be specified later to the shareholders registered in records on 22 April, the Tadawul-listed firm noted. 

 

The EGM also approved the board and auditor reports for 2017, while it rejected to amend item 4 of the firm’s articles of association, the statement showed.

MEPCO last reported a 28.2% decline in its net profits to reach SAR 68.13 million for the full year of 2017, compared to SAR 94.91 million in the year before.

MEPCO’s stock rose 1.53%, closing Sunday at SAR 26.55.