The Extraordinary General Assembly of Shareholders of United International Transportation Company (Budget Saudi Arabia), which was held on Thursday, May 23, approved the Board of Directors’ recommendation to distribute cash dividends amounting to 71.17 million riyals to shareholders for the second half of 2023 AD, at a rate of 1 riyal per share, representing 10% of the capital.
Budget Saudi Arabia said in a statement on the Tadawul website today, Sunday, that the right to dividends will be for shareholders who own shares at the end of trading on the day of the general assembly meeting, and who are registered in the company’s shareholders’ register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, noting that the date of dividend distribution will be announced later.
According to the statement, the company's shareholders agreed to authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2024, and to approve the disbursement of 3.55 million riyals as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2023.
Budget Saudi shareholders approved the election of Board of Directors members from among the candidates for the next term, which begins on June 21, 2024, for a period of 4 years, and ends on June 20, 2028.
The following members were elected, who received the highest number of votes from among the list of candidates: Ahmed Abdul Latif Ahmed Al-Barrak, Yazid Saleh Yahya Al-Yahya, Abdul Wahab Abdul Karim Abdul Rahman Al-Butairi, Abdullah Abdul Malik Abdullah Al-Sahabi Al-Sheikh, Ibrahim Saad Ibrahim Al-Muajjil, Naif Abdul Jalil Ali Al-Saif, Ali Hadi Hassan Al-Mansour, and Osama Ahmed Suleiman Banajah.
The General Assembly also approved the appointment of Dr. Mohammed Al-Omari & Partners (BDO) 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 and the annual financial statements for the fiscal year 2024 and the first quarter of the fiscal year 2025, and to set its fees at an amount of 635 thousand riyals, excluding value-added tax.
