Yansab shareholders OK retaining SAR 1.7B from statutory reserve

Yanbu National Petrochemical Co.’s (Yansab) shareholders approved transferring SAR 1.69 billion in statutory reserve, as per financial statements for the year ended on Dec. 31, 2023, to the retained earnings, during the extraordinary general meeting (EGM) held on March 20, according to a statement to Tadawul.

Shareholders also approved authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2024, in addition to other agenda items.