“Lubrev” generally agreed to distribute profits for the second half of 2024

The Saudi Aramco Company for Basic Oils Lubrev announced the results of the extraordinary general assembly meeting (the first meeting), which was held on Wednesday.
The company said in a statement on Saudi Arabia’s circulation: The results of the voting on the association’s agenda included:
1. See the company’s board’s report for the fiscal year ending on December 31, 2024 AD, and discuss it.
2. See the financial statements of the company for the fiscal year ending, and discuss, and discuss them.
3. Approval of the company’s audit auditor’s report on the fiscal year ending December 31, 2024 AD, after its discussion.
4. Approval of the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2024 AD with a total amount (518,225,554) riyals, and by (3.08) Saudi riyals per share representing (30.8%) of the nominal value of the share, provided that the right to shareholders owners of shares by the end of the trading day of the General Assembly and the registered in the company’s shareholder record at the company company Deposit of securities (deposit) at the end of the second trading day following the date of this entitlement, provided that the distribution of profits will be on Wednesday, April 30, 2025 AD.
5. Approving the mandate of the Board of Directors to distribute interim profits in a half or a quarterly in the fiscal year 2025 AD.
6. Approval of the payment of an amount of 3,600,000 riyals, a reward for the members of the Board of Directors for the fiscal year ending on December 31, 2024 AD.
7. Approval to discharge the members of the Board of Directors for the fiscal year ending on December 31, 2024 AD.
8. Approval to convert the regular reserve balance of 506,250,000 riyals for the balance of profits.