Riyadh – Mubasher: Atlas Elevators General Trading and Contracting Company has announced the successful conclusion of its Ordinary General Assembly meeting, where shareholders approved a cash dividend distribution of SAR 1 per share for 2025.

The meeting was held on 3 June 2026 and resulted in the appointment of a new external auditor and the authorization for the board of directors to issue interim dividends throughout 2026, according to a bourse filing.

In terms of shareholder returns, the assembly approved the board’s recommendation to distribute SAR 5.84 million in cash dividends for 2025. This distribution represents 10% of the company’s capital.

The company confirmed that the distribution process will begin on 16 June 2026, with funds being transferred to eligible shareholders’ linked investment accounts through the Securities Depository Center (Edaa).

A primary focus of the assembly was the ratification of the company’s financial and operational performance for the fiscal year ended on 31 December 2025.

Looking ahead to the 2026 fiscal year, shareholders granted the board of directors the authority to distribute interim dividends on a quarterly or semi-annual basis. This move provides the board with the flexibility to manage capital distributions in alignment with the company’s ongoing financial position.

Furthermore, the assembly approved the appointment of RSM Allied Accountants for Professional Consulting to serve as the company's auditor. The firm will be tasked with auditing the quarterly financial statements for 2026 and the year-end financials for a total fee of SAR 340,000.

The meeting also addressed corporate governance and related party transactions. Shareholders approved business contracts involving Managing Director and CEO Mohsen Ali Al Otaibi regarding capital contributions to a subsidiary, Atlas National Elevators Factory. These transactions, valued at SAR 284,585 and SAR 335,600 respectively, were executed during 2025 under standard commercial terms without preferential treatment.

Additionally, the board was granted authorization to exercise certain powers under the Companies Law for a one-year period.

The company concluded the disclosure by noting that dividends paid to non-resident foreign investors will be subject to a 5% withholding tax in accordance with Saudi Arabian tax regulations.

Shareholders were advised to ensure their bank account details are correctly linked to their investment portfolios to avoid delays in receiving payments.

Any shareholders experiencing difficulties with the deposit process were encouraged to contact Edaa or the company’s investor relations department directly.