Management Report
Net Profit )SAR 000(
Cash Dividends SAR (000(
Bonus Share Distributions
Cash Dividends to Net Profits Ratio (%)
Distribution to Capital Ratio (%)
Fiscal Year
One bonus share for each 8 shareholdings
2005
437,840
---
---
12,5%
2006 2007 2008
441,496 422,576 749,968 369,300
225,000 315,000 472,500 315,000
--- --- --- ---
51%
10% 10% 15% 10%
74,5%
63%
2009 *
85,3%
Annual average 55%
Annual average 11,5%
Total
2,421,180
1,327,500
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* Subject to the approval in the Extraordinary General Assembly.
Shareholders’ Rights & Communications
The company communicates with its shareholders on an ongoing basis and informs them of its performance and activities through official channels such as “Tadawul” website to appraise them of any developments of any significant financial impact or financial results in accordance with the directives of the Capital Market Authority and the disclosure policy duly approved by the company as part of the corporate governance regulations duly adopted by the Board of Directors of the company on 20/12/2009. The company participates in investment forums organized by certain investment companies and also meets with potential investors or current shareholders through meetings organized by interested investing parties. Additionally, the company received many officers from various investment entities. However, it is to be noted here that the information provided by the company was restricted to nominal which it had previously disclosed through the official channels of communication consistent with the guidelines of the Capital Market Authority and the Ministry of Commerce and Industry. Through its website, (www.nscsa.com.), the company offers information services to its shareholders on prior years entitlements such as unreceived dividends earnings, the price of stocks sold in a public auction or oversubscription funds left unclaimed by subscribers.
NSCSA shareholders enjoy all the rights and privileges pursuant to the provisions of the company’s memorandum of association and in line with the provisions of the Companies Act and the Corporate Governance Regulations duly issued by the Capital Market Authority. NSCSA Board of Directors and executive management are keen to create a favorable environment for enjoyment by the shareholders of all those rights through easy access to the company’s management or Shareholders’ Department. In addition to their right of nomination to membership of the Board of Directors subject to satisfying the applicable regulatory conditions of eligibility, shareholders also have the right to vote in the general assemblies and select their representatives to Board membership. Many shareholders participate in the discussions of all company activities and its future plans by attending general assembly meetings. When the General Assembly adopts any dividend distribution, such information will be announced forthwith and the company immediately starts payment of dividends to shareholders who are registered in the records of the Stock Depository Center (SDC) at the end of trading on the day of General Assembly meeting. Dividends will be deposited in shareholders’ portfolios with the respective local banks within a deadline of thirty days from the date of adoption of such dividend distribution by the General Assembly.
Dates of Significance to Shareholders for the Fiscal Year 2010 *
3 rd April, 2010
21 st April 2010
21 st July 2010
20 th Oct. 2010
20 th Jan. 2011
Date of publication of the 4th quarter financial statements Extraordinary General Assem- bly Meeting • The above dates represent deadlines for publication of quarterly financial statements which may be published prior to these deadlines, depending on the circumstances and audit of these financial statements. Date of publication of the 3rd quarter financial statements Date of publication of the 2nd quarter financial statements Date of publication of the 1st quarter financial statements 2009 dividend distribution, within two weeks from the date of General Assembly meeting.
Annual Report 2009 The National Shipping Company of Saudi Arabia
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