Riyadh - Mubasher: The extraordinary general meeting (EGM) of Yanbu Cement Co approved the distribution of cash dividends for the second half of 2016.
The company will distribute dividends at SAR 2 per share or 20% of capital, so as to start the distribution 15 May, according to a bourse filing on Monday.
The entitlement of the dividends will be for the shareholders registered in the Depositary Center Company at the end of trading day following the EGM.
The EGM also agreed on mandating the board to distribute interim dividends for 2017.
Moreover, the meeting nodded to the board's report for 2016, in addition to amending the company’s bylaws to be in line with the New Companies Law.
For the first half of 2016, the Saudi-listed company paid dividends at SAR 1 per share, totaling SAR 157.5 million and representing 10% of capital.
