Monday 19 April 2021 - 7:51:39 am

Sharjah Cooperative Society approves 20% dividends distribution

SHARJAH, 7th April, 2021 (WAM) -- The General Assembly of the Sharjah Cooperative Society approved the distribution of a 10 percent dividends return on capital and a dividend of 10 percent on the shareholders’ purchases for the 2020 work.

The Sharjah Cooperative’s Board of Directors extended its thanks and gratitude to His Highness Sheikh Dr. Sultan bin Mohamed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and to Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, for their constant follow-up of the cooperative’s march.

During the annual meeting of the Society for the fiscal year ended 2020, the Board of Directors approved the report of 2020 and the results of the audit work for the financial year ended 31/12/2020 and the balance sheet and profit and loss accounts for the year ended 31/12/2020.

The General Assembly also approved, by the majority of the members voting, to discharge the members of the Board of Directors and account auditors of all matters related to their management of Sharjah Cooperative for the year 2020. The General Assembly also commissioned the Board of Directors to appoint an auditor for the fiscal year 2021.

Shareholders remotely attended the General Assembly meeting in observance of public safety and in line with country’s attempts to curb the spread of the coronavirus.

WAM/Tariq alfaham/Hatem Mohamed