Albattal Factory Approves SAR 2 mln Dividend, Endorses Related-Party Deals

Albattal Factory for Chemical Industries Co. said on Sunday its shareholders approved a SAR 2 million dividend for FY 2024, or SAR 0.60 per share, representing 6% of capital.

Dividends will be paid starting June 25, 2025, to shareholders holding shares on the assembly date and registered with Edaa within two trading days.

Other resolutions passed at the meeting include:

• Approval of the 2024 financial statements, board report, and auditor’s report.

• Discharge of the board from liabilities for 2024.

• Appointment of Al-Sayed Al-Ayouti & Partners as auditor for FY 2025 for SAR 595,000.

• Authorization for interim dividend payments in FY 2025.

• Approval of business dealings with Al-Battal Holding and Al Battal Investment Co., in which board members have indirect interests. Transactions totaled SAR 4.4 million and SAR 7.3 million, respectively, and were conducted on arm’s-length terms, the company said.