Riyadh – Mubasher: Al Jouf Agricultural Development Company’s (JADCO) extraordinary general meeting (EGM) has approved to distribute SAR 30 million at SAR 1 per share cash dividends for the full fiscal year ended 31 December 2018.

Distributions represent 10% of JADCO’s capital, the Saudi company said in a bourse filing.

The eligibility of dividends will be for the registered shareholders in the register of the Securities Depository Center Company at the end of the second trading day following the EGM’s meeting, while the distribution date will specified later.

JADCO’s EGM also authorised the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2019, as well as approved the auditor’s report.

In March, the company’s board of directors recommended distributing a SAR 1 per-share dividend for 2018.

 JADCO last reported a 40% year-on-year rise in profits for the full year 2018, logging SAR 35.76 million.