Afaq Energy Co. Recommends the Distribution of 15% of Dividends to Shareholders, Reviewing Company's Future Plans

Afaq Energy Co. Recommends the Distribution of 15% of Dividends to Shareholders, Reviewing Company's Future Plans

2017-04-10

Afaq Energy Co. achieved past year a net profit reached to 20.8 million JDs compared to 17.6 million JDs in 2016.

The General Authority of the company approved to distribute dividends to shareholders of 15% of the capital, during its regular meeting which held today, headed by Deputy Chairman of the Board of Directors Muin Qadada.

The company's general assembly approved the auditor's report and the final financial statements of the company for the year 2016, along with the discharge of the Board's members.

The Deputy Chairman of the Board, Mr. Muin Qadada reviewed the prominent achievements implemented in 2016, apart from future plans and developments, stressing that the company is pursuing the policy of expansion in connection with gas stations. In fact, the operating stations to date amounted to 55 stations distributed throughout the Kingdom; the company strives to build 10 stations per year to reach the number 120 by the year 2020.