Kamran approves 31% dividend to shareholders

Sana'a - Saba : Kamran Company for Industry and Investment approved the distribution of profits to shareholders by 31% in one of the highest dividend percentages at the national level. This came at the Ordinary General Assembly meeting, which was held on Monday in Sana'a in the presence of the Economy, Industry and Investment, Minister Engineer Moeen Hashim Al-Mahakri, Chairman of the Board of Directors of Kamran, Mohammed Ahmed Al-Dawla, Board members Abdullah Abdulwali Noman, representative of the Ministry of Economy and Industry, Bilal Zaid, representative of the Yemeni Bank for Reconstruction and Development, Mohammed Abdo Saeed and Abdulrab Awhaj, representatives of the residents, in addition to a large number of shareholders. During the meeting, Minister Al-Mahakri praised Kamran's efforts and its role in supporting the national economy. For his part, the Chairman of the company Board of Directors reviewed in his speech the difficulties and challenges that the company faced during the past years, spe cifically during the period "2018-2020", which almost led to the demise of the company and its ancient history. He explained that the company bore a great burden of the consequences , repercussions of the aggression, and these difficulties reached their peak in 2020, when its activity stopped , was about to collapse and declare bankruptcy after it lost its market value. He also explained that the company faced many challenges, such as the complete cessation of production , sales activity in May 2020, the depletion of tobacco stocks , raw materials in the factory and the detention of 50 containers in Aden for more than 15 months, as well as the interruption of salaries , dues of workers and employees for more than four months, the interruption of general assembly meetings since 2014, and the failure to close the company's general budgets from 2017 to 2023. The Chairman of the company Board of Directors noted that with the support of the political leadership, all these challenges were overcome according to a well-thought-out plan, to start spinning the wheel of production, restarting the factory, and returning the company's products to the markets in 2021, amid major challenges due to the loss of market share , consumer segment for the company's products. He stated that all obstacles and difficulties were overcome without compromising the company's assets , shareholders' property rights, and not reducing the capital, as the company was able to achieve net profits that covered the losses carried over from previous years, with a surplus profit proposed to be distributed to shareholders in the amount of two billion and 170 million riyals, with a profit ratio of 31% of the capital, which is the highest amount of profits distributed by the company. Source: Yemen News Agency