Leejam Sports’ shareholders nod for dividend payout, other items at general assembly
LEEJAM SPORTS
1830 -0.18% 81.00 -0.15
Riyadh – Mubasher: Leejam Sports Company has announced the results of its Extraordinary General Assembly meeting held on 18 June 2026 to approve a series of strategic and financial resolutions, according to a bourse filing.
The shareholders discussed the distribution of cash dividends for the first quarter (Q1) of 2026, the appointment of Ernst & Young (EY) as the external auditor, and several amendments to the company’s bylaws.
The assembly reviewed and discussed the board of directors’ report and the financial statements for the fiscal year ended on 31 December 2025.
Shareholders subsequently approved the auditor’s report and discharged the board members from liability for the 2025 fiscal year.
A significant portion of the meeting focused on shareholder returns. The assembly approved the board’s recommendation to distribute SAR 29.31 million in cash dividends for Q1-26. This equates to SAR 0.58 per share, representing 5.8% of the share’s nominal value.
Eligibility for these dividends was set for shareholders owning stock at the close of trading on the day of the assembly, with registration finalized in the records of the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date.
The company clarified that the dividend disbursement date has been rescheduled to 29 June 2026, moving from the previously announced date of 25 June. This adjustment was made to ensure compliance with Edaa’s operational timeframes for processing payments.
Furthermore, the assembly granted the board of directors the authority to distribute interim dividends on a semi-annual or quarterly basis for the remainder of the 2026 fiscal year.
In terms of corporate governance and external oversight, the assembly approved the appointment of Ernst & Young (EY) to audit the company’s financial statements.
The firm will be responsible for the Q2 and Q3 as well as annual quarters of 2026, in addition to Q1-27.
The professional fees for these services were set at SAR 1.04 million, excluding Value Added Tax (VAT).
Additionally, the assembly approved a total remuneration of SAR 3.72 million for the board members for the 2025 fiscal year.
The Extraordinary General Assembly also addressed structural changes to the company’s foundation by approving amendments to several articles of the company’s bylaws. These included Article 3 regarding the company’s objectives, Article 23 concerning the powers of the board, and Article 25 regarding the authorities of the Chairman, Vice Chairman, and Managing Director.
Finally, the company reminded non-resident investors that cash dividends transferred to them are subject to a 5% withholding tax in accordance with the Income Tax Law.
Shareholders were encouraged to update their data with their respective brokerage firms to ensure the seamless electronic transfer of funds through the Securities Depository Center.
Source: Mubasher Source: {{details.article.source}}