ADES shareholders authorize board to distribute 2025 interim dividends

Logo of ADES Holding Co.

ADES Holding Co.’s shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2025, according to a statement to Tadawul.

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They also approved the appointment of KPMG Professional Services as external auditor, based on the audit committee’s recommendation, to review and audit the financial statements for the second and third quarters and full-year 2025, as well as the first quarter of 2026. Audit fees were set at SAR 3.7 million, excluding VAT.

Additionally, shareholders approved the appointment of Ernst & Young (EY) to audit the first-quarter financial statements of 2025, with fees set at SAR 574,564, excluding VAT.

The general assembly also approved SAR 2.65 million in remuneration for board and committee members for the fiscal year ending Dec. 31, 2024.

ADES paid a cash dividend at 43.6%, or SAR 0.44 per share, for 2024, according to Argaam data.