Riyadh Cables Approves SAR 224.57 Million Dividend Distribution for 2023

Riyadh Cables Group Co. has announced the results of the Ordinary General Assembly meeting (First Meeting), which includes the approval of the Board of Directors’ recommendation to distribute dividends totaling SAR 224,576,250 for the fiscal year ended December 31, 2023. Shareholders will receive SAR 1.50 per share, representing 15% of the nominal share value. Eligibility for the dividend extends to shareholders recorded in the company’s shareholders’ registry at the Securities Depository Center (EDAA) at the end of the second trading day following the meeting. Dividends will be paid within 15 working days from the General Assembly meeting date.

Additionally, the assembly approved transactions with MASDAR, a building materials supplier, which involve indirect interests of non-executive Board members, Engineer Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fuad Al-Saleh. These transactions, totaling SAR 1,230,180 for purchase orders and SAR 61,468,625 for sales orders in 2023, were carried out without preferential terms or benefits.