Saudi Chemical EGM Fails Again, Dividend Vote Delayed

Saudi Chemical Company Holding said its extraordinary general assembly did not convene for a second time after failing to meet the required quorum. The meeting, scheduled by modern technology means, was the second attempt to hold the EGM.

The agenda included a vote on a proposed SAR 0.10 per share dividend. The company had set May 13 as the record date for the dividend vote, as outlined in an earlier announcement. With both the first and second meetings unable to proceed, the dividend decision remains pending.

Shareholders now wait for the company to call a third meeting. Under Saudi corporate law, if two consecutive meetings fail to achieve quorum, the third meeting may be held with whatever attendance is present, though the company has not yet set a date.

The delay does not affect the dividend proposal itself, only the timing of the shareholder vote. For context on the original proposal, see Saudi Chemical Proposes SAR 0.10 Dividend for May 13 Vote.