Logo of Saudi Chemical Co. Holding (SCCH)
Shareholders of Saudi Chemical Co. Holding (SCCH) approved reducing nominal value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM) held on June 21, the company said in a statement to Tadawul.
The company indicated that capital will remain unchanged after the stock split.
Shareholders also authorized the board of directors to distribute an interim dividend for 2023 on a semiannual or quarterly basis.
Shareholders also ratified halting the allocation of 10% of net earnings for the statutory reserve, whenever it reaches 30% of capital.
In a separate statement, Tadawul indicated that fluctuation limits were based today, June 22, on the stock price of SAR 3.77 a share, and the outstanding orders will be cancelled.
Edaa will add the stock split securities in shareholder accounts before start of trading on July 3.
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