Al Waha GA Approves SAR 10.1 Mln Dividend, Rejects BOD Discharge for 2024

Zahrat Al Waha for Trading Co. announced on Wednesday the results of its Ordinary General Assembly Meeting (First Meeting). The voting results were as follows:

– The Board of Directors’ report for the fiscal year ending 31 December 2024 was reviewed and discussed;

– The company’s auditor’s report for the fiscal year ending 31 December 2024 was approved after discussion;

– The financial statements for the fiscal year ending 31 December 2024 were reviewed and discussed;

– The appointment of KPMG Professional Services as the company’s auditor was approved from among the nominated candidates, based on the Audit Committee’s recommendation, to examine, review and audit the financial statements for the second, third and annual quarters of fiscal year 2025 and the first quarter of fiscal year 2026. The audit fee was set at SAR 800,000; and

– The recommendation of the Board of Directors to distribute cash dividends of SAR 10,125,000 to shareholders for the fiscal year ending 31 December 2024 was approved, at a rate of 45 halalas per share, representing 4.5% of the nominal value per share. Eligibility is for shareholders who own shares at the end of trading on the assembly meeting day and are registered in the company’s shareholders’ register with the Securities Depository Center (Edaa) by the end of the second trading day following the meeting. Dividend distribution will begin on Thursday, 19 June 2025.