Yansab EGM to vote on SAR 1.7B reserve transfer to retained earnings on March 20

Logo of Yanbu National Petrochemical Co. (Yansab)

Yanbu National Petrochemical Co.’s (Yansab) shareholders will vote on transferring statutory reserve, amounting to SAR 1.69 billion as of Dec. 31, 2023, to retained earnings account in an extraordinary general meeting (EGM) to be held on March 20.

Shareholders will also vote on authorizing the board of directors to distribute dividends on a semi-annual or quarterly basis for 2024, according to a statement to Tadawul.