Middle East Paper Co.’s (MEPCO) general assembly has approved a 7.5 percent cash dividend for the fiscal year 2017, at SAR 0.75 per share, amounting to SAR 37.5 million.
Shareholders also delegated the company’s board of directors to issue semi-annual or quarterly dividend for fiscal year of 2018, in accordance with corporate rules and regulations.
The general assembly, however, did not approve amending some articles of the company’s bylaws related to the company’s management, the vacant position at the board of directors, board meetings quorum and general assembly’s invitations.
|
Cash Dividend Details (2017) |
|
|
Current Capital |
SAR 500 mln |
|
Number of shares |
50 mln |
|
Cash dividend |
SAR 37.5 mln |
|
Percent capital |
7.5% (SAR 0.75 per share) |
|
Record date |
April 22, 2018 |
|
Payment date |
May 8, 2018 |
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