Saudi Arabian Refineries Co. (SARCO) has approved the board’s recommendation on withholding dividend for 2016, the company said in a statement to Saudi bourse, Tadawul.

 

Shareholders approved the board of directors’ report, an audit report and all financial statements for 2016.

 

The decisions came in a vote during the company’s extraordinary general meeting (EGM) on April 20.

 

Shareholders also discharged board members from liability associated with their activities in 2016, and selected an external auditor for 2017.

 

The Saudi company paid cash dividend at SAR 0.50 a share for FY15, data compiled on Argaam showed.

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