SPIMACO shareholders to vote on 10% dividend Apr. 19

03/04/2018 Argaam

 

Shareholders of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) will vote on the board of directors’ recommendation to distribute a 10 percent cash dividend (SAR 1 per share) for the fiscal year 2017 in the upcoming general assembly meeting on Apr. 19.

 

The proposed dividend will total SAR 120 million, the company said in a bourse statement on Tuesday.

 

Registered shareholders at the Securities Depository Center Co. (Edaa) by the end of the second trading day following the meeting are eligible to receive the dividend.

 

The company’s financial statements, as well as board and auditor’s reports for the fiscal year 2017 will be also discussed.

 

Additionally, shareholders will vote on approving the board remuneration amounting to SAR 1.75 million, appoint external auditors, and discharge board members from liabilities for the previous fiscal year, the statement added.

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