Riyadh - Mubasher: The Saudi National Metal Manufacturing and Casting Company (Maadaniyah) said that it will begin the distribution of cash dividends at SAR 0.50 per share on 8 June 2017, according to a bourse filing.

The company said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday that dividends will total SAR 14.056 million.

Dividends will be transferred to shareholders through banking transfers by the National Commercial Bank (NCB), the statement noted.

The company's ordinary general meeting (OGM) previously approved the distribution of dividends at 50 halalas per share for fiscal year 2016.

The dividends will be distributed among shareholders of record by the end of the OGM’s day and shareholders registered by the end of the second trading day following the maturity date.