“Almarai” announces EGAM results
In the evening of Sunday 27 Jumada Al-Thani 1438H corresponding to March 26th, 2017 in Riyadh city, Almarai Company held its Extraordinary General Assembly Meeting “EGAM”. Almarai Board members and several shareholders attended the meeting. Shareholders voted on the items of the EGAM agenda and endorsed distribution of a dividend of SR 0.90 per share, totaling SR 720m i.e. 9% of corporate capital, in consideration of the fiscal year ending December 31st 2016.
The EGAM meeting between Almarai’s board members and shareholders witnessed open dialogue between the two sides on the future corporate plans, the challenges to be encountered by the company in the coming period, and the main strategies adopted in this respect.
H.H. Prince Sultan bin Mohammad bin Saud Al-Kabeer, Almarai’s Board Chairman said, “With the help of Allah, we will be able to face the business challenges in the New Year”. He added, “According to its strategy, Almarai will proceed in developing its business and products alike. The company plans to expand in some neighboring countries to boost its investments”.
H.H. Prince Sultan bin Mohammad bin Saud Al-Kabeer, extended its many thanks to Custodian of the Two Holy Mosques, the Crown Prince, and the Deputy Crown Prince, for their unlimited support to the private sector companies, which substantially effected further development and growth.
It is worth mentioning that Almarai Company, founded in 1977, is the largest vertically integrated dairy company in the world. Almarai has been listed in the Saudi Stock Exchange in 2005. Almarai exports its products to GCC States and some Arab countries via the biggest land transport fleet in the Middle East.