Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) on Monday announced that its shareholders had approved the board of directors’ proposal to distribute a cash dividend of SAR 1.5 a share, or 15% of the share’s nominal value, for 2018 during an ordinary general meeting (OGM) held the previous day.

The eligibility of dividends shall be for the shareholders owning shares by the end of the OGM’s day and as per the registered shareholders in the register of the Securities Depository Center Company at the end of the second trading day following the OGM’s date, according to a statement to the Saudi Stock Exchange (Tadawul).

For the full-year 2018, Bahri’s net profits retreated 40% to SAR 481.24 million from SAR 800.31 million in the prior year.

In April 2018, the Saudi company’s OGM approved distributing a cash dividend of SAR 1.5 per share for 2017.