Petal’s profits decreased 20.3% to 9.49 million riyals in 2024

The net profit of the Petal Chemical Industries Factory Company in 2024 decreased by 20.3% to 9.49 million riyals, compared to 11.91 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the net profit decreased due to the decrease in revenues from the previous year.
Today, the Board of Directors recommended distributing cash dividends to shareholders for the fiscal year ending 12/31/2024.
The total amount distributed is estimated at 2 million riyals, while the number of shares due for profits is 3,335,000.
The share share of the distribution is 0.6 riyals, while the distribution rate to the nominal share value is 6%.
After the general assembly approval of this recommendation, the eligibility for the company’s shareholders, who are owned by the shares, will be at the end of the trading day of the company’s general assembly and those registered in the company’s records with the Securities Depository Center Company (Deposit) at the end of the second trading day that follows the date of the General Assembly, which will be announced later after obtaining the necessary official approvals, while the date of the distribution will be announced later.

Election of 5 members of the Board of Directors

The Balad Chemical Industries Factory Company for its shareholders announced the results of the extraordinary general assembly meeting (the first meeting), which was held yesterday.
The results of the vote on the association’s agenda included:
1. Approval to delete Article (9) of the company’s basic system related to (shareholders record).
2. Approval of amending Article No. (10) of the company’s basic system related to (stock trading).
3. Approving the amendment of Article No. (18) of the company’s basic system related to (company management) to increase the number of members from (3) to (5).
4. Approval to delete Article (45) of the company’s basic system related to (issuing public association decisions to pass).
5. Approval of the election of the members of the Board of Directors from among the candidates for the next session, which starts from the date of 03/30/2025 AD for a period of (4) AD, ending on 03/29/2029 AD.
The elected members are: M. Khaled Al -Dossary, Bassam Al -Dossary, Saad Al -Dossary, Eng. Ahmed Al -Zahid, Ali Al -Humaidan.