The Ordinary General Assembly of the National Company for Education (Wataniya Education) approved the Board of Directors ’recommendation to distribute cash dividends totaling 34.4 million riyals to shareholders for the fiscal year ending on August 31 2020, by 0.80 riyals per share, equivalent to 8% of the company's capital.
According to Arabiya Net, shareholders who own shares are eligible at the end of the trading day of the assembly and are registered in the company's shareholders register at the Depository Center at the end of the second trading day following the maturity date, The distribution of these profits will start on Sunday, January 24, 2021.
The company said in a statement that the shareholders approved the election of members of the board of directors for the next 3-year term beginning on February 28, 2021, as well as the election of the audit committee.
The shareholders agreed to appoint KPMG Al-Fawzan & Partners as accountants and chartered auditors from among the candidates, to examine, review and audit the financial statements for the third quarter of the fiscal year 2020 / 2021 and the fiscal year that will end on August 31, 2021, and the first and second quarter of the fiscal year 2021/2022, and the shareholders approved the financial statements and the auditor's report for the previous fiscal year.
The National Company for Education and Education had announced a decline in its net profits after zakat and tax by 67.45% in the first quarter of the company's fiscal year by the end of November 2020, to about 3.79 million riyals, compared to 11.64 million riyals in the same quarter of the previous fiscal year.
It is mentioned that the company's financial year begins in early September of the year, until the end of August of the following year.
