RIYADH: The Ataa Educational Company announced on Sunday that its board of directors has decided to grant special discounts on tuition fees for the second semester of the 2020-2021 academic year.
This marks the second time the company has provided tuition discounts, with fee discounts also offered in August last year.
In a statement to Tadawul, the Saudi Stock Exchange, the school operator said that the discounts would be “gradual” and would reach as high as 60 percent of the fees of some academic stages and educational complexes, according to specific criteria that would be announced “in due course.”
The decision follows the Ministry of Education’s announcement on Jan. 13 that students of all levels in public schools, universities and technical schools would continue to pursue studies through remote learning for the second semester of the academic year, as a consequence of the ongoing coronavirus disease (COVID-19) pandemic.
Ataa Educational said in its statement that the expected financial impact resulting from this decision cannot be determined at present.
Last week, at the company’s general assembly, it was agreed to distribute dividends to shareholders for the fiscal year ending on July 31, 2020, with a total value of SR40 million ($10.67 million).
Members of the board of directors also received a bonus of SR1.35 million, at a rate of SR150,000 for each member.