Riyadh – Mubasher: The shareholders of Middle East Paper Company (MEPCO) have greenlighted a cash dividend distribution of SAR 1 per share for 2021.

MEPCO will disburse a total amount of SAR 50 million, according to a bourse filing on Tuesday.

The shareholders approved the 2021 cash dividends during the ordinary general meeting (OGM) that was held on Monday, 13 June.

Last March, the Saudi firm’s board recommended the 10% of capital dividends for 50 million eligible shares.

In 2021, MEPCO reported net profits worth SAR 220.86 million, higher by 994.70% than SAR 20.17 million a year earlier.