City Cement shareholders approve 2.5% cash dividend for H216
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City Cement Co. shareholders have approved paying cash dividend at 2.5 percent of capital, or SAR 0.25 a share, totaling SAR 47.3 million for H2-16, the cement producer said in a bourse statement.
The decision came during a vote held in the company’s extraordinary general meeting (EGM) on March 29.
This takes the total cash dividend payout for the full year to 10 percent.
Shareholders approved the board of directors’ report, an auditor report and all financial statements for 2016. They also endorsed SAR 1.3 million worth of board bonuses, and authorized the board of directors to pay interim cash dividend for 2017.
Shareholders were also said to have discharged board members from liability associated with their activities in 2016, and selected an external auditor for 2017.