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Arabian Food and Dairy Factories Company (Fadeco) Holds Successful General Assembly Meeting
By KlickAnalytics Data Insights | June 30, 2026 05:03PM ET
- Board of Directors authorized to issue interim dividend payments
- Appointment of external auditor for 2026 fiscal year approved
In an exciting turn of events, Arabian Food and Dairy Factories Company (Fadeco) recently concluded its Ordinary General Assembly meeting on 22 June 2026. Shareholders came together to review and approve the company's financial performance for the 2025 fiscal year. During the meeting, the Board of Directors received authorization to issue interim dividend payments to shareholders for the current period.
A major highlight of the assembly was the ratification of Fadeco's financial standing. Shareholders voted to approve the auditor's report for 2025 following a detailed discussion. Additionally, the Board of Directors' report and the company's audited financial statements for the same period were reviewed and formally adopted. The assembly also granted a discharge of liability to the Board members for their management during the 2025 fiscal year.
Looking towards future financial oversight, the assembly made a crucial decision by approving the appointment of Dr. Mohamed Al-Amri & Co. as the company's external auditor for the 2026 fiscal year. The firm will be responsible for examining and auditing the semi-annual and annual financial statements. The assembly also authorized the payment of SAR 300,000 as professional fees for these services.
In a move to benefit shareholders, a key resolution was passed allowing the Board of Directors to distribute interim dividends. This decision empowers the board to distribute profits on a semi-annual or quarterly basis for 2025, enabling effective management of liquidity and shareholder returns throughout the year. Moreover, the assembly approved the disbursement of SAR 1 million as remuneration for the Board members for 2025, aligning with the company's compensation policies.
The successful conclusion of the Ordinary General Assembly demonstrates Fadeco's commitment to transparency and regulatory compliance as it continues to operate in the Saudi food and dairy sector. This highlights the company's dedication to shareholder value and corporate governance, setting a solid foundation for future growth and success.
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