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Glass recommends paying dividends cash 5% for 2021

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National Glass Industries Company “Glass” announced the company’s board of directors’ recommendation to distribute dividends in cash to its shareholders for the year 2021, for a total of approximately 16.45 million riyals, for a number of shares in circulation of 32.9 million shares.

The glass company said in a statement on “Saudi Tadawul”, today, Monday, that the share’s distribution share is 0.5 riyals, with a distribution ratio of 5% to the share’s face value.

Eligibility for profits is due to the shareholders of the company who own shares on the maturity date of January 16, 2022 and are registered with the Securities Deposit Center Company “The Deposit Center” at the end of the second trading day following the date of expiration.

The company said it will announce the dividend distribution date and mechanism in a second time.

The National Glass Industries Company “Glass” announced that it has obtained the approval of the Saudi Industrial Development Fund for the renegotiation of the latest installment in suspended of the loan equal to 31.8 million riyals on the total loan equal to 252.211 million riyals with the extension of the repayment period for a further two years ending in 2023 instead of 2021.

The company stated in a statement to Saudi Tadawul that the funding program supports its financial position.

He added that the guarantee provided against the renegotiated loan is a bill of exchange and an extension of the existing mortgage on the fixed assets.

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