Riyadh – Mubasher: Leen Alkhair Trading Company announced that its shareholders have approved a mandate authorizing the Board of Directors to distribute interim dividends for the 2026 fiscal year, according to a bourse disclosure.
During the Ordinary General Assembly meeting held on 24 June 2026, investors also ratified the financial statements for the previous year, discharged board members from liability, and approved a series of significant related party transactions involving companies linked to the firm’s leadership.
A primary outcome of the assembly was the authorization for the board to distribute interim dividends on a semi-annual or quarterly basis for 2026. This move provides the board with the necessary flexibility to manage shareholder returns throughout the year.
Additionally, shareholders approved the appointment of Al-Sayed Al-Ayouty & Co. Certified Public Accountants as the company’s external auditor. The firm will be responsible for auditing the annual financial statements for 2026 and the first half of 2027, for a total fee of SAR 435,000.
The assembly also reviewed and approved several business contracts and transactions involving related parties.
These transactions were conducted with entities in which Chairman Saud Al Shuraim and CEO Abdullah Al Shuraim hold indirect interests.
The largest of these dealings involved Basmat Al Sultan Company, which engaged in the purchase and sale of fruits and vegetables as well as rental services for a center in Jeddah. The final balance for these transactions in 2025 stood at SAR 10.99 million.
Further approvals were granted for dealings with Masaif Company, which saw a final balance of SAR 31.33 million for 2025, primarily related to produce trading and payments made on behalf of the company.
Other approved contracts included administrative office rentals and hardware purchases from Future Destination Technology Company, contracting projects with Arsan Al Oula Contracting, and electronic governance services from Masahem Administrative Company.
The shareholders also ratified transactions directly involving the Managing Director and CEO, Abdullah Al Shuraim, regarding payments made on behalf of the company, resulting in a final credit balance of SAR 1.02 million for the 2025 fiscal year.
The assembly confirmed that all these agreements were executed within the normal course of business, following prevailing commercial terms without any preferential conditions.
By approving these items, the General Assembly has finalized the regulatory requirements for the 2025 fiscal year while establishing the operational and financial framework for the company’s governance and shareholder distribution policies heading into 2026 and 2027.
