SARCO’s OGM disapproves board remuneration for 2024

Logo of Saudi Arabia Refineries Co. (SARCO) 

Saudi Arabia Refineries Co.’s (SARCO) ordinary general meeting (OGM) refused to approve SAR 1.74 million board remuneration for the year ended Dec. 31, 2024.

 

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In a statement to Tadawul, the company said that shareholders authorized the board of directors to distribute interim dividends for 2025 on a semiannual or quarterly basis.

 

According to data compiled by Argaam, SARCO’s board decided in March to withhold dividends for 2024.

 

The company reported a net loss of SAR 53.5 million in 2024, versus a profit of SAR 7.7 million in 2023. Q4 2024 losses stood at SAR 36.5 million.

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