SABIC AN shareholders approve SAR 1.43B reserve transfer to retained earnings

Logo of SABIC Agri-Nutrients Co. (SABIC AN) 

SABIC Agri-Nutrients Co.’s (SABIC AN) shareholders approved transferring the balance of the statutory reserve, amounting to SAR 1.43 billion as of Dec. 31, 2023, to retained earnings.

The shareholders’ approval came during an extraordinary general meeting (EGM) held on April 28, according to a statement to Tadawul.

During the meeting, shareholders also authorized the board of directors to distribute interim dividends for 2024 on a semi-annual or quarterly basis.

Meanwhile, they approved amending bylaws and all other items on the agenda.