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UCIC General Assembly Approves 2026 Profits
The Ordinary General Assembly of United Cardboard Industries "UCIIC" has approved authorizing its Board of Directors to distribute interim profits for 2026, whether semi-annual or quarterly, in order to enhance the flexibility of the distribution policy. It also approved the financial statements for the fiscal year ending December 2025, and decided to allocate bonuses amounting to 2.53 million riyals to the board members. Additionally, the company appointed PricewaterhouseCoopers to conduct the audit for a fee of 2.08 million riyals. Shareholders also approved several related-party transactions, including sale and service contracts, with the company's sales exceeding 33.8 million riyals, while ensuring no preferential benefits were involved. These decisions emphasize the company's commitment to strengthening governance and ensuring the sustainability of its financial and operational performance.
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