Bahri Annual Report-2011

The National Shipping Company of Saudi Arabia


dends to capital which reached (10%) during the past five years (2007 - 2011).

The following table shows the net profit gener- ated, the rate of dividend to net profit, which reached an average of (70%), and rate of divi-

Fiscal Year

Net Profit (SAR’000)

Cash Dividends (SAR‘000)

Bonus Share Distributions

Cash Dividends to Net Profit Ratio (%)

Distribution to Capital Ratio (%)

2007 422,576





2008 749,968





2009 369,300





2010 414,878





2011 287,768






2,244,490 1,575,000


Annual Average 70% Annual Average 10%

* Subject to the approval by the Ordinary General Assembly

Shareholders’ Equity and Communication with Shareholders

Bahri shareholders enjoy all the rights and privileges set forth in the Memorandum of Association, which are consistent with the Companies Act and Rules of Implementation of Corporate Governance Regulations duly issued by the Capital Market Authority. The Board of Directors and Executive Management of Bahri are keen to create a favorable environment for the shareholders to enjoy all those rights through easy access to the Company’s management and the 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 are invited through local newspapers, through the Company’s website and Tadawul website to attend the General Assembly meetings. 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 the 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 Securities Depository Center (SDC) at the end of trading on the day of the General Assembly meeting. Dividends will be deposited in the shareholders’ portfolios with the respective local banks within a deadline

of thirty (30) days from the date of adoption of such dividend distribution by the General Assembly. The Company participates in investment forums organized by certain investment companies. Bahri held meeting with potential investors and current shareholders organized by interested investing parties. Additionally, Bahri welcomes many representatives from various investment entities. However, it is to be noted here that the information provided by Bahri is restricted to previously disclosed information through the official channels of communication, consistent with the guidelines of the Capital Market Authority, Ministry of Commerce and the Industry. Through its website (, Bahri provides a gateway to shareholders and all other users to communicate with the Company on an ongoing basis. This website can be used to explore any required information and information related to Bahri, including periodical and annual reports, operational reports, publications and announcements; in addition to, current and prior year’s shareholder data. The Company also furnishes all the news on its performance and activities through official channels such as “Tadawul” website in accordance with the directives of the Capital Market Authority and the disclosure policy duly approved by the Company as part of Bahri’s Corporate Governance regulations.

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