| Element List | Explanation |
|---|---|
| Announcement Detail | Electrical Industries Company announces that the board of directors in its meeting held on 28/8/2024 has approved the Company’s dividends distribution policy for the next three years. The dividends distribution policy shall be presented to the upcoming general assembly meeting for endorsement, which will be announced later. The objective of the policy is to maintain a minimum level of dividends per share on Semi- annual basis. |
The dividends policy as follows:
1-Distributing dividends to the shareholders amount of 12.5 Halala per share on a semi-annual basis for the next three years, starting from the second half of year 2024 and ending on first half of year 2027. The Company will consider the distribution of additional dividends, after assessing the financial position of the company, future expectations and capital requirements, subject to recommendation of the board of directors and general assembly approval.
2-Distributing the dividends will be on a semi- annual basis after authorizing the board of directors by the general assembly.
However, dividends policy is subject to change based on the following:
-Any material changes in the strategy and business of the company, including the sectors in which the company operates.
-The Laws, regulations and controls that are applicable on the Company
-Any obligations or covenants of banking or financing entities
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