AlWasail Industrial BOD recommends distributing SAR 12.5 million in cash dividends for H2, 2024

AlWasail Industrial Company announced the Board of Directors’ recommendation to distribute SAR 12.5 million in cash dividends for the second half of the year ending December 31, 2024, equivalent to 5% of the nominal value of the share.

The company stated that the number of shares eligible for dividends amounted to 250 million shares, at SAR 0.05 per share.

Following the General Assembly’s approval of this recommendation, the eligibility for dividends will be for shareholders who own shares at the end of the trading day on the date of the General Assembly and are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) by the end of the second trading day following the date of the General Assembly. In the same context, the company announced its intention to disclose its financial statements on a quarterly basis, starting with the first quarter of fiscal year 2025. This is in line with best practices in disclosure and governance, and in accordance with Article 91 of the Corporate Governance Regulations, which relates to the implementation of effective governance.