Budget Saudi approves SAR 78.16 mln cash dividends for H2 2024

The United International Transportation Co. (Budget Saudi) announced the results of its Ordinary General Assembly (first meeting), with the following voting results:

1. The financial statements for the fiscal year ending December 31, 2024, were reviewed and discussed.
2. The Board of Directors’ report for the financial year ending December 31, 2024, was reviewed and discussed.
3. Approval of the auditor’s report for the fiscal year ending December 31, 2024, after discussion.
4. Approval of appointing RSM Allied Accountants Co. as the company’s external auditor from among the candidates, based on the recommendation of the audit committee, to examine, review, and audit the financial statements for the second and third quarters, as well as the annual financial statements for fiscal year 2025 and the first quarter of fiscal year 2026, with fees set at SAR 700,000 excluding VAT.
5. Approval of paying SAR 3,070,000 as remuneration to board members for the fiscal year ending December 31, 2024.
6. Approval of authorizing the Board of Directors to distribute interim profits on a semi- or quarterly basis for the fiscal year 2025.
7. Approval of the Board of Directors’ recommendation to distribute dividends of SAR 78,166,668 to shareholders for the second half of 2024, at a rate of SAR 1 per share, representing 10% of the capital. Eligibility is for shareholders who own shares at the end of trading on the day of the General Assembly and those registered in the company’s shareholder register with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the due date. The dividend distribution will begin on Sunday, June 15, 2025.
8. Approval of delegating authority to the Board of Directors for the General Assembly’s Ordinary Meeting License, as outlined in paragraph (1) of Article 27 of the Companies Law, for a period of one year starting from the date of the General Assembly’s approval or until the conclusion of the term of the authorized Board of Directors, whichever comes first, in accordance with the provisions stipulated in the Executive Regulations of the Companies Law for Listed Joint-Stock Companies.
9. Approval of delegating authority to the Board of Directors for the General Assembly’s Ordinary Meeting License, as outlined in paragraph (2) of Article 27 of the Companies Law, for a period of one year starting from the date of the General Assembly’s approval or until the conclusion of the term of the authorized Board of Directors, whichever comes first, in accordance with the provisions stipulated in the Executive Regulations of the Companies Law for Listed Joint-Stock Companies, for operations and activities in vehicle and car rental, road transportation of passengers and goods, and the sale of used cars.
10. Approval of the competition standards and regulation.
11. Approval of the participation of board member Mr. Abdulwahab Abdulkarim Albetari in a business competing with the company.
12. Approval of the participation of board member Mr. Ali Hadi Almansour in a business competing with the company.