The Saudi Electricity Company revealed that it had signed an agreement with the Saudi government represented by the Ministry of Finance, to convert net financial obligations owed to the government, which is close to 168 billion riyals to a secondary financial instrument, is not guaranteed, deadline is specified, refundable, and an annual profit margin of 4.5% .
And according to Al Arabiya, this amount is payable if it is decided to distribute cash dividends to The financial instrument, which is equivalent to about 33.4% of the total value of Saudi Electricity assets at the end of the third quarter of the fiscal year 2020, includes government loans and net government payables after deducting government receivables outstanding according to the company's financial statements at the end of the fiscal year 2019.
an addition of 3.35 billion riyals in exchange for the settlement of Saudi Aramco profits, transferred diphtheria to the Ministry of Finance, the dividend shares in the company for the period since its inception until the end of the year 1439 AH (ie the corresponding dividend for the fiscal year 2017), note that the activation of the amount of dues profits of Saudi Aramco in the principal amount is linked to the Council approves the financial instrument of the General Assembly of the company .
It is worth mentioning that, this tool is compatible with the provisions of the Islamic Sharia, and classified rights Shareholders, and it has no effect on the ownership percentage of the company's shareholders and the related rights.
