Saudi Catering shareholders authorize board to pay interim dividend for 2022

Logo of Saudi Airlines Catering Co.

Shareholders of Saudi Airlines Catering Co. (SACC) authorized the board of directors to pay interim dividend on a semi-annual or quarterly basis for 2022, during the extraordinary general meeting (EGM) held on May 11, according to a bourse filing.

They also approved all items on the meeting’s agenda, including related-party transactions.

According to data available on Argaam, the company's last dividend was paid out for Q4 2019 as the board of directors made a recommendation in February 2020 to distribute a 14% cash dividend (equivalent to SAR 1.40 per share). However, the distribution date was postponed until Oct. 27, 2020, as a precautionary measure after the coronavirus outbreak to maintain a liquidity level and counter the risk of cash flow shortage.