Almarai General Assembly approved to distribute one billion riyals in dividends to shareholders

Almarai Co.’s shareholders approved a 10% cash dividend, or SAR 1 per share, for 2022, during the extraordinary general its meeting (EGM) held on Tuesday, Ramadan 20, 1444 AH, corresponding to April 11, 2022 AD, at its headquarters in Riyadh, through modern technology.

Meanwhile, shareholders ratified up to 10 million shares buyback to allocate to employee incentive program. The process will be financed from the company’s internal resources.

Moreover, Almarai’s shareholders authorized the board of directors or whoever it delegates to complete the shares buyback process within a maximum period of 12 months from the EGM date.

The company will maintain the repurchased shares for a period not exceeding seven years from the EGM approval date, until they are allocated to eligible employees.

In addition, shareholders approved contracts and business that took place between the company and related parties during 2022.