Eastern Cement’s EGM to vote on SAR 430M statutory reserve transfer to consensual reserve on May 5

26/03/2024 Argaam

Eastern Cement to vote on SAR 430M statutorEastern Cement shareholders to vote on SAR 430M statutory reserve transfer on May 5y reserve transfer to voluntary reserve on May 5

Logo of Eastern Province Cement Co.

Eastern Province Cement Co.’ shareholders are set to vote on transferring the statutory reserve balance of SAR 430 million as of Dec. 31, 2023, to the consensual reserve, during the extraordinary general meeting (EGM) that will be held on May 5.

 
In a statement to Tadawul today, March 26, the company said the step comes to support its financial solvency.
 
Meanwhile, shareholders will vote on authorizing the board of directors to distribute interim dividend for 2024 on a semi-annual or quarterly basis.

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