JEDDAH, 29 March 2007 — The general assembly of the Saudi Research & Marketing Group (SRMG) has decided to distribute SR160 million in dividends from the profits of 2006, an official statement said. “The amount accounts for 20 percent of the capital,” the company said. SRMG shareholders who have registered with Tadawul by March 27, 2007 will be entitled to receive a dividend of SR2 per share.
The general assembly, which met at the company’s headquarters in Riyadh on Tuesday, approved the report of the company’s board of directors, the auditors’ report and financial statements for 2006.
The company said it would begin distributing the dividends through SABB branches on April 15. “The dividend of shareholders having an investment portfolio with SABB or any other local bank will be deposited in their current accounts which are linked to their investment portfolios where they have deposited the company’s shares,” the statement said.
Shareholders who do not have a bank account can approach the nearest SABB and receive the amount in cash after showing their personal identity cards.
The company urged shareholders to update their records with the Saudi Company to Register Shares (Tadawul) and local banks by providing correct information in order for SABB to deposit their dividends in their current accounts.
The general assembly also approved the appointment of three new members to fill vacant positions and appointed Deloitte & Touche-Bakr Abu Al-Khair & Partners to audit the company’s financial statements for 2007 and quarterly financial statements.
