Arabian Centres Company (Cenomi Centers) announces its dividends distribution policy starting from Q2, 2024.
| Element List | Explanation |
|---|---|
| Announcement Detail | Arabian Centres Co. (“Cenomi Centers” or “the company”) announces that the Board of Directors has approved (by circulation) Monday on 25-03-2024, the company's dividend policy For a period of one year starting from Q2 of the year 2024. The dividend policy remains subject to the ratification in the next General Assembly Meeting which will be announced later. The objective of the dividend policy is to maintain a minimum level of dividend per share on quarterly basis.
The dividend policy as follows:
Cenomi Centers commits to pay SR 0.375 per share per quarter for the for one year. Further, the company will consider and pay additional dividend, subject to Cenomi Centers Board of Directors recommendation to the General Assembely, after the assessment of the Company's financial situation, future outlook and capital expenditure requirements. Additional dividends are likely to vary on quarterly basis depending on the company’s performance.
The dividends policy will remain subject to change based on the following:
1. Any material changes in the strategy and business of the company (including the business environment it operates in);
2. Laws and regulations that are applicable on the Company; and
3. Any banking, other funding or credit rating covenants that the company may be bound to follow from time to time. |
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