Molan Steel Approves Interim Dividend Authorization for 2026

Molan Steel Co. (Ticker: 9553) announced the results of its Ordinary General Assembly meeting held on June 30, 2026, at the company's Riyadh headquarters via modern technology, with 55.08% shareholder attendance.

Key Resolutions

• Interim Dividend Authorization: The assembly authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2026.
• External Auditor Appointment: Alzoman, Alfahad & Alhajjaj Professional Consulting Co. was appointed as the external auditor for fiscal year 2026 with total fees of SAR 260,000 (SAR 200,000 for annual audit and SAR 60,000 for semi-annual review).
• Board Member Confirmation: The appointment of Mr. Majed Ibrahim Al-Odaiby as a Board member was confirmed, effective April 9, 2026, to complete the current term ending July 10, 2027.

Context

These decisions are part of Molan Steel's efforts to enhance corporate governance and transparency, providing shareholders with flexibility through regular interim dividends.

What This Means for Investors

The authorization of interim dividends is a positive signal for income-focused investors and reflects confidence in the company's cash flow. However, specific amounts and timelines for distributions have not yet been announced.