Saudi Company for Hardware (SACO) shareholders will approve a 17.5 percent dividend (SAR 1.75 per share) for the first half of 2017, totaling SAR 42 million, at the company’s extraordinary general assembly on May 13.
Shareholders will also approve a 15 percent dividend (SAR 1.5 per share) for H2 2017, SACO said in a bourse statement.
In addition, they will approve the board of directors’ report, audit report, and all financial statements for 2017.
Other items on the agenda include discharging board members from liability associated with their activities in 2017, selecting an external auditor for 2018 and Q1 2019, and approving board bonuses at SAR 1.5 million for 2017.
During the meeting, shareholders will also approve transactions signed between the company and other parties.
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