Hail Cement sets agenda for March 21 general assembly

Hail Cement Co.’s shareholders will review a proposal from the company’s board of directors to distribute a 5 percent cash dividend for H2-2015, totaling SAR 48.95 million, the cement producer said in a statement on Tadawul.

The vote is set to take place at the company’s ordinary general meeting on March 21.

An 11 percent cash dividend valued at SAR 107.96 million will be distributed for fiscal year 2015. Shareholders registered by the next general assembly are entitled to receive the dividends.

Hail Cement paid a 6 percent cash dividend for H1-2015, amounting to SAR 58.74 million.

Shareholders will also decide whether to distribute bonuses worth SAR 2.4 million to the company’s board for 2015.

In addition, they will review the board’s report, financial statements and auditors’ report for the FY-2015. A proposal to discharge board of directors from liability for activities last year will also be on the agenda.