Riyadh – Mubasher: The shareholders of Saudia Dairy and Foodstuff Co (Sadafco) approved distributing SAR 2 per share as a cash dividend for the second half that ended 30 March 2019.

Sadafco will announce the date of distributing the dividends to the entitled shareholders, according to a bourse disclosure on Wednesday.

The Tadawul-listed company also approved the cash dividend worth SAR 2 a share distributed for the first half of fiscal year ended in March 2019.

The shareholders, during their ordinary general meeting (OGM) on Tuesday, also agreed to authorise the board members to distribute semi-annual or quarterly dividends for fiscal year ending on 30 March 2020.

During the full-year ended March 2019, Sadafco posted a decrease of 17% in profits to SAR 216.11 million compared to SAR 260.2 million in the previous year.