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Service Equipment Shareholders Approve Financial Performance and Dividend Distribution Authority
By KlickAnalytics Data Insights | June 30, 2026 03:02PM ET
- Shareholders greenlight Service Equipment Company's financial performance for the 2025 fiscal year
- Board of Directors granted authority to distribute interim dividends for 2026
- Shareholders appoint RSM as the external auditor for the 2026 financial cycle
In a recent announcement, Service Equipment Company revealed that its Ordinary General Assembly Meeting saw shareholders giving the thumbs up to the financial performance for the 2025 fiscal year. The meeting, held on 24 June 2026, also granted the Board of Directors the authority to distribute interim dividends for 2026. Shareholders reviewed and discussed the company’s financial statements for 2025, approving the external auditor’s report for the same period. The assembly also discharged the Board of Directors from liability for the 2025 fiscal year and approved a total remuneration of SAR 369,750 for board members for the same year.
Looking ahead to the 2026 financial cycle, shareholders appointed RSM as the company’s external auditor with total fees set at SAR 220,000. The assembly also ratified the appointment of Bassam Ali Al Dhabi as a new board member, filling the vacancy left by independent member Tariq Tilmisani. Additionally, the board was granted the authorization to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year, providing the company with more flexibility to return capital to shareholders throughout the year based on financial performance and regulatory requirements.
During the assembly, shareholders also reviewed and ratified related-party transactions and contracts conducted in 2025. These transactions included dealings with entities where Chairman Ahmed Omar Abu Bakr Balbaid and board members Majid Balbaid and Mohammed Al Haj held indirect interests, with the largest involving site rentals and expenses paid on behalf of the company. The successful conclusion of the General Assembly reflects shareholder confidence in Service Equipment’s governance and strategic direction for the 2026 fiscal year, highlighting the company's commitment to transparency and shareholder value.
- Board of Directors granted authority to distribute interim dividends for 2026
- Shareholders appoint RSM as the external auditor for the 2026 financial cycle
In a recent announcement, Service Equipment Company revealed that its Ordinary General Assembly Meeting saw shareholders giving the thumbs up to the financial performance for the 2025 fiscal year. The meeting, held on 24 June 2026, also granted the Board of Directors the authority to distribute interim dividends for 2026. Shareholders reviewed and discussed the company’s financial statements for 2025, approving the external auditor’s report for the same period. The assembly also discharged the Board of Directors from liability for the 2025 fiscal year and approved a total remuneration of SAR 369,750 for board members for the same year.
Looking ahead to the 2026 financial cycle, shareholders appointed RSM as the company’s external auditor with total fees set at SAR 220,000. The assembly also ratified the appointment of Bassam Ali Al Dhabi as a new board member, filling the vacancy left by independent member Tariq Tilmisani. Additionally, the board was granted the authorization to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year, providing the company with more flexibility to return capital to shareholders throughout the year based on financial performance and regulatory requirements.
During the assembly, shareholders also reviewed and ratified related-party transactions and contracts conducted in 2025. These transactions included dealings with entities where Chairman Ahmed Omar Abu Bakr Balbaid and board members Majid Balbaid and Mohammed Al Haj held indirect interests, with the largest involving site rentals and expenses paid on behalf of the company. The successful conclusion of the General Assembly reflects shareholder confidence in Service Equipment’s governance and strategic direction for the 2026 fiscal year, highlighting the company's commitment to transparency and shareholder value.
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