Al Yamamah Steel shareholders delegate board to distribute interim dividends for 2023

20/02/2023 Argaam

Al Yamamah Steel shareholders delegate board to distribute interim dividends for 2023

Logo of Al Yamamah Steel Industries Co.

Al Yamamah Steel Industries Co.’s shareholders delegated the board of directors to distribute interim dividends semi-annually or quarterly for the upcoming fiscal year 2023, during the ordinary general meeting (OGM) held on Feb. 19.

 

In a statement of Tadawul, the company said that shareholders approved all the OGM agenda items, including a number of contracts concluded between the steel manufacturer and some related parties.

 

According to data compiled by Argaam, the board of directors recommended a 7.5% cash dividend, or SAR 0.75 per share, for the first half of the fiscal year ending on Sept. 30, 2022. This was the last cash dividend the company made.

 

In December 2022, the board recommended no dividend payout for the second half of the fiscal year ended Sept. 30, 2022. The company will rather focus on financing future projects.

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