Middle East Economic Survey

VOL. LII

No 38

21-Sep-2009

SAUDI ARABIA

SEC Granted Dividend Reprieve

The Saudi Electricity Company (SEC) has been granted another 10-year reprieve (starting on 17 December this year) on paying dividends to the government, according to an announcement on the Saudi stock exchange (Tadawul) last week. The renewal, which will save it hundreds of millions of riyals, extends a similar arrangement that SEC had with the government over the last 10 years and expiring this year....