Arabian Cement EGA approves 40% dividend for FY16

Arabian Cement Co.’s extraordinary general assembly on April 18 has approved a 40 percent cash dividend for fiscal year 2016, which amounts to SAR 400 million or SAR 4 per share, the company said in a statement to Tadawul.

Shareholders also reapproved deals with Ready Mix Concrete & Construction Supplies Ltd. for next year. Last year’s contracts were worth about SAR 80.8 million.  

The extraordinary general assembly has approved the new board of directors for the new one-year term starting on Jan. 1, 2018.