Banan to transfer SAR 7.66M statutory reserve to retained earnings

27/05/2025 Argaam
Logo ofBanan Real Estate Co.

Logo of Banan Real Estate Co.

Banan Real Estate Co.’s shareholders, in an extraordinary general meeting (EGM) on May 26, approved the transfer of the company’s statutory reserve to the retained earnings.

 

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In a statement to Tadawul, the company said that its statutory reserve amounted to SAR 7.66 million as of the Dec. 31, 2024. The retained earnings account stood at SAR 149.35 million as of the same date.

 

Meanwhile, shareholders approved authorizing the company’s board of directors to distribute interim dividends for 2025 on a semi-annual quarterly basis.

 

Banan distributed cash dividends at 3.5% (SAR 0.035 per share) for H1 2024, Argaam earlier reported.

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