The Ordinary General Assembly (first meeting) of the shareholders of the Arab Internet and Communications Services Company (Solutions) approved the Board of Directors’ recommendation to distribute cash dividends amounting to 713.99 million riyals to shareholders for the financial period ending on December 31, 2023, at a rate of 6 riyals per share, at a rate of 60% of the nominal share value.
Solutions said in a statement on the Tadawul website today, Thursday, that the right to profits is for shareholders who own shares at the end of trading on the day of the General Assembly meeting and 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, provided that the date of dividend distribution is June 26, 2024.
Solutions shareholders also approved the disbursement of SAR 4.04 million as a bonus to the members of the Board of Directors and members of the committees for the fiscal year ending on December 31, 2023.
It was also approved to appoint Ernst & Young as the company’s auditor from among the candidates based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2024, and the first quarter of the fiscal year 2025, and to set its fees at an amount of 2.298 million riyals, excluding value-added tax.
