The Board of Directors of Almarai Company in Saudi Arabia recommended to the General Assembly, at its meeting held on December 14, 2021, the distribution of cash dividends for the fiscal year 2021 worth one billion riyals on one billion shares with a share of one riyal per share, at a rate of 10% of the nominal value.
According to a statement on the company’s website, The Saudi Stock Exchange “Tadawul” Dividends will be paid to the company’s shareholders registered with a deposit center at the end of the second trading day of the company’s general assembly, which will be determined later after obtaining regulatory approvals from the relevant government agencies.
On the other hand, Almarai Board of Directors approved, at the same meeting, an investment plan in the red meat sector, which allows the company to provide local meat of high quality to consumers, and expand the base of its sectors, enabling it to enhance its role in ensuring food security and achieving the goals of Vision 2030, in a way that supports The company’s experience in calves production and its supply chains helped make this project a success.
The plan, according to a separate statement on the “Tadawul” website, includes an initial investment of 250 million riyals (which will be financed internally from the company’s operating cash flow) to build a new integrated factory that starts from the slaughterhouse and prepares meat and ends with packaging and packaging for sale in retail stores.
According to the statement, the company will work to obtain the necessary approvals from the regulatory authorities, and it is expected that the project will be completed within 24 months after the date of obtaining these approvals.