SGS shareholders OK transfer of SAR 520.2M reserve to retained earnings

Shareholders of Saudi Ground Services Co. (SGS) approved transferring the company’s SAR 520.17 million statutory reserve as of Dec. 31, 2023, to the retained earnings account.

They also authorized the board of directors to pay interim dividends on a semi-annual or quarterly basis for 2024, in addition a board remuneration of SAR 2.75 million for 2023, the company said in a Tadawul statement.