Raydan shareholders OK SAR 27.4 mln transfer from reserve to retained earnings

A Raydan Food branch

Raydan Food Co.’s shareholders approved the transfer of the company's statutory reserve of SAR 27.41 million, as in financial statements for 2022, to the retained earnings account.

This was during the extraordinary general meeting (EGM) held on Oct. 10, according to a statement on Tadawul.

In addition, they ratified distributing a SAR 1.2 million bonus to the current board members for 2022.

Shareholders also agreed to distribute an amount of SAR 747,000 in bonuses to members of the current sub-board committees for the same year.