APICO to pay SAR 11.25m dividends; shareholders approve financial results
APICO
9548 -3.37% 50.25 -1.75 2P
7204.B 0.00% 0.00 0.00
Riyadh – Mubasher: Arabian Plastic Industrial Company (APICO) recently held its Ordinary General Assembly meeting, where shareholders approved a significant cash dividend distribution of SAR 11.25 million for the 2025 fiscal year.
The meeting took place on 28 June 2026 and resulted in the ratification of the board and auditor reports, the discharge of board members from liability, and the approval of several related-party contracts.
The assembly, chaired by Ahmed Omar Abu Bakr Balbaid, saw the approval of the Board of Directors’ recommendation to distribute cash dividends amounting to SAR 1.50 per share.
This dividend distribution represents 15% of the share’s nominal value. Eligibility for these dividends is granted to shareholders registered in the company’s records at the Securities Depository Center (Edaa) by the end of the second trading day following the assembly date.
The company confirmed that the disbursement of these funds will be completed within 15 working days from the eligibility date.
In a move to provide the company with greater financial flexibility for the upcoming period, the General Assembly authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.
This delegation of authority aligns with the executive regulations of the Companies Law for listed joint-stock companies.
Financial oversight was a key component of the meeting’s agenda. Shareholders approved the appointment of Dr. Mohamed Al Amri & Co. (BDO) as the company’s external auditor. The firm is tasked with reviewing and auditing the semi-annual and annual financial statements for the 2025 fiscal year for a total fee of SAR 330,000.
Furthermore, the assembly approved a total remuneration of SAR 600,000 for the members of the Board of Directors for their services during the fiscal year ended on 31 December 2025.
The meeting also addressed several related-party transactions and contracts involving board members, all of which were approved under the condition that they were conducted without preferential terms. These included:
- Management consulting, marketing, and IT services with Core3 Management Consulting (formerly referred to as Al Rakaiz Al Thalatha), totaling SAR 798,542.
- Purchases of oils and lubricants from the Arabian Plant for Lubricants and Greases, valued at SAR 160,614.
- Sales of plastic containers to the Arabian Plant for Lubricants and Greases, amounting to SAR 1.02 million.
- Payments made on behalf of the company by Omar Abu Bakr Balbaid Co. Ltd., totaling SAR 227,024.
Board members with indirect interests in these contracts, including Ahmed Omar Balbaid, Waleed Khalid Balbaid, and Khalid Omar Balbaid, among others, were identified in the disclosure to ensure transparency in accordance with Saudi regulatory requirements.
Additionally, the assembly approved the company's competition standards and controls policy.
This policy is designed to govern the company’s interactions within the market and ensure compliance with statutory competition frameworks.
The meeting concluded with the formal approval of the financial statements and the auditor’s report for the year ended on 31 December 2025, marking the completion of the annual regulatory cycle for the previous fiscal period.
Source: Mubasher Source: {{details.article.source}}