Arabian Contracting GA approves BOD recommendation to distribute SR95 mln cash dividends for H1

The Board of Directors of Arabian Contracting Services Co. announced on Wednesday the results of the Ordinary General Meeting (First Meeting) which was held by means of modern technology on Tuesday, 04-10-2022 after reaching the quorum of 67.45% and fulfilling the required legal quorum for Ordinary General Assembly meeting in accordance with the Companies Law and the Company’s Bylaws.
The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1. Approval on the recommendation of the Board of Directors to distribute cash dividends to the Shareholders for the first half of the year 2022 with total amount of SR95,000,000 at SAR 1.90 per share, which represent 19 % of the par value; where the eligibility will be to the shareholders owning shares on the ordinary general meeting date, and those whose registered in the company’s share registry at the depository center at the end of the second trading day following the due date. The date of dividends distribution will be on Wednesday 19 October 2022.
2. Approval on delegating the Board of Directors to distribute cash dividends quarterly / semi-annually for the fiscal year 2022.
3. Approval on Corporate Social Responsibility Policy for the Arabian Contracting Services Co.
4. Approval on amending the Policies, Standards, and Procedures for Board Membership of the Arabian Contracting Services Co.
5. Approval on amending Remuneration Policy for the board of directors, its committee, and the executive management of the Arabian Contracting Services Co.