SISCO shareholders to vote on 8% cash dividend for 2024 on June 29

Shareholders of Sustained Infrastructure Holding Co. (SISCO Holding) will discuss the board's recommendation on an 8% cash dividend (SAR 0.8 per share) for 2024, during the extraordinary general meeting (EGM) scheduled for June 29.

In a statement to Tadawul, SISCO said the shareholders will also vote on the employee long-term incentive plan (LTIP) and authorize the board of directors to set the required terms and make the necessary amendments, if necessary, including the allocation price per employee.

Other agenda items include the reallocation of treasury shares to employees’ LTIP, if the above-mentioned item is approved.

Earlier, shareholders gave the go-ahead for the buyback of 8.16 million treasury shares maximum. SISCO completed the repurchase of 264,500 shares on Nov. 9, 2023, and retained them as treasury shares, in line with the EGM’s decision on Nov. 10, 2022.

During the upcoming meeting, shareholders will also discuss the board’s recommendation to transfer the statutory reserve balance of SAR 106.9 million to the retained earnings balance as of Dec. 31, 2024, the statement added.