East Pipes shareholders to vote on dividends, SAR 173M contracts

East Pipes Integrated Company for Industry has called an ordinary general meeting for July 27 to vote on interim dividends and related-party contracts worth SAR 173 million, the company said in a bourse filing.

The meeting will be held virtually through the Tadawulaty system.

The agenda includes authorizing the board to distribute interim dividends on a quarterly or semi-annual basis for the 2026-2027 fiscal year.

Shareholders will also review several related-party transactions with Welspun Corp Limited and Welspun Pipes Inc. Their combined value is SAR 173.18 million. Specific items include pipe purchases worth SAR 112.17 million and a machinery purchase of SAR 712,500.

Other items up for approval are SAR 3.55 million in board and committee remuneration for the fiscal year ended March 31, 2026. The assembly will also vote on an additional SAR 40,000 fee for auditor Ernst & Young for reviewing related-party transaction reports.

The meeting requires a legal quorum of shareholders representing at least 25% of the company's voting shares. Electronic voting starts at 01:00 on July 22.