Banan to transfer SAR 7.66M statutory reserve to retained earnings
Banan Real Estate Co. 's shareholders, in an extraordinary general meeting (EGM) on May 26, approved the transfer of the company's statutory reserve to the retained earnings.
In a statement to Tadawul, the company said that its statutory reserve amounted to SAR 7.66 million as of the Dec. 31, 2024. The retained earnings account stood at SAR 149.35 million as of the same date.
Meanwhile, shareholders approved authorizing the company's board of directors to distribute interim dividends for 2025 on a semi-annual quarterly basis.
Banan distributed cash dividends at 3.5% (SAR 0.035 per share) for H1 2024, Argaam earlier reported.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Oil Steady after US Stockpile Build
Oil prices steadied on Thursday after falling more than 1% the previous day because of a build in US gasoline and diesel inventories and cuts to Saudi Arabia's July prices for Asia. Brent crude futures were up 23 cents, or 0.35%, at $65.09 a barrel by 1148 GMT. US West Texas Intermediate crude gained 16 cents, or 0.25%, to $63.01 a barrel. Oil prices closed around 1% lower on Wednesday after official data showed that US gasoline and distillate stockpiles grew more than expected, reflecting weaker demand in the world's largest economy. Geopolitics and the Canadian wildfires, which can reduce oil production, provide price support despite a potentially over-supplied market in the second half of the year with expected OPEC+ production hikes, PVM analyst Tamas Varga said. The price cut by Saudi Arabia followed the OPEC+ move over the weekend to increase output by 411,000 barrels per day (bpd) for July. The strategy of OPEC's Saudi Arabia is partly to punish over-producers by potentially unwinding 2.2 million bpd between June and the end of October, in a bid to wrestle back market share, Reuters previously reported. "Oil demand will be shaped by trade negotiations between the US and its trading partners," PVM's Varga said.
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
GASTAT Announces 1,673,230 Pilgrims for Hajj
The General Authority for Statistics (GASTAT) announced on Thursday that a total of 1,673,230 pilgrims are performing Hajj. Of these, 1,506,576 arrived from abroad, while 166,654 are from within the Kingdom, including both citizens and residents. According to a GASTAT press release, male pilgrims, both internal and external, totaled 877,841, while female pilgrims numbered 795,389. GASTAT also revealed that 1,435,017 pilgrims arrived in the Kingdom via airports, 66,465 through land border crossings, and 5,094 via seaports. GASTAT's methodology for these statistics relies primarily on administrative records from the Ministry of Interior. This approach, which has been consistently adopted over the past five years, aims to provide high-accuracy and reliable register-based data for Hajj statistics, utilizing a standardized model with several key components. As the Kingdom's official statistical authority, GASTAT is the exclusive provider of official statistics in Saudi Arabia and is entrusted with overseeing all national statistical activities, including technical supervision, conducting field surveys and research, data analysis, and managing the documentation, preservation, and tabulation of statistical information across all sectors of life in the Kingdom. On this occasion, GASTAT President Dr. Fahad Aldossari extended his sincere appreciation to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for their unwavering support and comprehensive care provided to the pilgrims.
Arab News
2 hours ago
- Arab News
Saudi authorities pump nearly 1 million cubic meters of water to serve Hajj pilgrims
MAKKAH: Saudi water authorities have provided nearly a million cubic meters of water to serve the 1.4 million Muslim pilgrims participating in the Hajj since Wednesday. The National Water Company said that it pumped more than 980,633 cubic meters of water to key holy sites visited by pilgrims, including Makkah, Madinah, Mina, Mount Arafat and Muzdalifah. The Saudi Water Authority, a government body overseeing water operations in the Kingdom, said that providing water to pilgrims was one of its 24-hour continuous tasks during the Hajj season. On Thursday, it presented its comprehensive water supply chain plan, which begins with seawater desalination, undergoes transportation and treatment, and ends with distribution, reuse and irrigation. An interactive presentation, 'The Story of Water in Hajj,' was shown in numerous languages at the Hajj Media Hub, an integrated media center supporting journalists covering Hajj, in the Makkah Chamber Exhibition and Events Center. It showcased advanced technologies for water desalination, storage, transportation and treatment, along with smart operations and sustainability solutions, the Saudi Press Agency reported.
