Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) has announced the results of its Ordinary General Meeting (OGM), where shareholders approved a cash dividend distribution of SAR 449.37 million for 2025.
During the meeting, held virtually from the company’s Riyadh headquarters on 30 June 2026, investors also ratified the appointment of KPMG as the external auditor for a multi-year term and cleared the board of directors of liability for the previous fiscal period.
The meeting reached a quorum with an attendance rate of 56.02%, presided over by Chairman Abdullah bin Fahd Al Fares and Vice Chairman Bader bin Nasser Al Kharafi.
A primary highlight of the assembly was the endorsement of the board’s recommendation to distribute dividends at a rate of SAR 0.50 per share. This payout represents 5% of the share’s nominal value.
Eligibility for these dividends is set for shareholders owning stock at the end of the trading day of the assembly, with distribution scheduled to commence on 21 July 2026.
In a significant move regarding the company’s financial oversight, shareholders approved the appointment of KPMG Professional Consulting.
The firm will be responsible for reviewing and auditing the financial statements for the second and third quarters of 2026, the full 2027 and 2028 fiscal years, and the first quarter of (Q1) 2029. The total fees for these services are valued at SAR 20,791,512, excluding value-added tax.
The assembly also addressed board composition and governance. Shareholders confirmed the appointment of Atef bin Saeed Al Sayyabi as a non-executive board member.
Al Sayyabi joined the board on 22 January 2026 to fill a vacancy and will serve until the current board cycle concludes on 25 April 2029.
Furthermore, the board was granted authorization to enter into contracts and business dealings in which directors may have a direct or indirect interest, in accordance with the Companies Law.
A substantial portion of the meeting was dedicated to the approval of related-party transactions and contracts involving Zain Group and other entities.
These included management and branding fees with Zain Group valued at SAR 170 million for 2025 and telecommunications services with Zain Group subsidiaries totaling SAR 58.20 million in revenue and SAR 122.60 million in costs.
Other approved dealings involved Zain Omantel International (ZOI) for cable capacity rights worth SAR 37.50 million, and various service and lease agreements with ZainTech, FOO Holding, and the General Organization for Social Insurance (GOSI).
The assembly also approved a total remuneration of SAR 5.04 million for board members for the 2025 fiscal year and formally adopted the company’s Social Responsibility Policy. All related-party contracts were confirmed to have been conducted on standard commercial terms without preferential treatment.
