The Board of Directors of Al Yah Satellite Communications Company (Yahsat) has approved a proposal submitted by the senior executive management to amend the dividend policy, which will allow the payment of dividends to shareholders on a semi-annual basis.< /p>
This proposal reflects senior management's confidence in Yahsat's solid financial position and ability to generate strong cash flows and fund future investments; According to a press release.
The proposal will be presented to the shareholders for approval at the next annual general meeting of Yahsat for the fiscal year ending on December 31, 2021; This is after the issuance of the statutory approval by the Securities and Commodities Authority on the agenda of the General Assembly.
The proposal to amend the dividend policy to allow for the payment of dividends on a semi-annual basis is in line with Yahsat's commitment to achieving sustainable returns for shareholders, its distinguished position in the satellite sector and its improved financial position after deals recently concluded, along with its strong balance sheet that supports its ability to pay regular dividends.
