National Cement Company (PSC) Announces Annual General Meeting and Potential Dividend Distribution
National Cement Company (PSC) has recently extended an invitation to its shareholders for the upcoming Annual General Meeting. This article will delve into the details of the meeting and the potential implications for the company's future.
Summary
National Cement Company (PSC) is set to hold its Annual General Meeting on 25th April 2024, with a potential distribution of a 15% cash dividend on the table. The company's future looks optimistic with the potential for further growth and dividends.
National Cement Company (PSC), a leading cement manufacturer in the United Arab Emirates, has invited shareholders to its upcoming Annual General Meeting. The meeting is scheduled for 25th April 2024 and will take place both physically at the company's main headquarters in Al Quoz Industrial 3, Dubai, and virtually.
The meeting's agenda is packed with key items including the approval of the Directors' and Auditors' reports for the year ended 31st December 2023, and the consideration of the Consolidated Financial Statements for the same period. A highlight of the meeting will be the potential distribution of a 15% cash dividend of the nominal value of the shares, equivalent to 53,820,000 dirhams.
This potential dividend distribution signals a positive financial outlook for the company, rewarding shareholders for their investment and demonstrating the company's profitability. The meeting will also consider and approve the Board of Directors' remuneration, absolve the Board of Directors and Auditors from liability for the year ended 31st December 2023, appoint auditors for the year 2024 and their fees, and elect the members of the Board of Directors for the next three-year term (2024 -2027).
With a market cap of 861,120,000 and a steady yield over the past months, National Cement Company (PSC) is a solid choice for investors looking for stability and potential growth in the cement industry. The company's strong performance, coupled with its strategic investments in securities and derivative products, further strengthens its financial position and offers an optimistic outlook for the future.
Given these factors, it is suggested that current shareholders hold onto their shares to reap the potential benefits of the proposed dividend distribution. For potential investors, this could be an opportune time to buy into the company and benefit from its future growth and dividends.
Source
Summary
The National Cement Company (PSC) has invited its shareholders to attend the Annual General Meeting. The meeting is scheduled to take place physically at the company's main headquarters in Al Quoz Industrial 3, Dubai and virtually on Thursday, 25 April 2024 at 01:00 PM. The meeting's agenda includes reviewing and approving the Directors' and Auditors' reports for the year ended 31st December 2023, considering and approving the Consolidated Financial Statements for the same period, and considering the distribution of a 15% cash dividend of the nominal value of the shares equivalent to 53,820,000 dirhams. The meeting will also consider and approve the Board of Directors' remuneration, absolve the Board of Directors and Auditors from liability for the year ended 31st December 2023, appoint auditors for the year 2024 and their fees, and elect the members of the Board of Directors for the next three-year term (2024 -2027). Shareholders can appoint a representative to attend on their behalf, adhering to specific guidelines.
