Bahri shareholders to vote on 10% dividend for H2 2020 on April 26

National Shipping Company of Saudi Arabia’s (Bahri) shareholders are set to vote on the board recommendation to distribute 10% cash dividend, or SAR 1 per share, for the second half of 2020, during the general meeting that will be held on April 26, 2021.

Moreover, shareholders will vote on authorizing the board to distribute interim dividends on a quarterly or semi-annual basis for 2021.

They will also vote on the recommendation of the board of directors with regards to the new dividends policy for 2020, 2021 and 2022.

Bahri targets to pay SAR 1 per share semi-annually for the next three years starting from 2020. The dividend policy will remain subject to change based on any material changes in the strategy, high volatility on shipping’s international prices or any, and funding that the company may be bound to follow.

Shareholders will vote on the suspension of allocating 10% of the net income to the statutory reserve since it has exceeded 30% of capital.