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Bahri shareholders OK 10% dividend proposal
Shareholders approved a 10% dividend at Bahri, the Saudi shipping firm. The SAR 1 per share payout locks in a return consistent with the company's annual distribution pattern.
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Shareholders of Bahri, the Saudi shipping giant, approved a 10% dividend proposal at the company’s general assembly. The payout covers the current financial period, the firm said in a filing.
The dividend works out to SAR 1 per share for each of the 350 million outstanding shares. That follows a pattern of annual distributions from the state-backed logistics operator. Bahri, formally the National Shipping Company of Saudi Arabia, runs the world’s largest fleet of very large crude carriers by capacity.