United Foods Announces Key Shareholder Meeting
United Foods Company PJSC announces its upcoming general assembly meeting to discuss financials and dividends.
Summary
United Foods Company PJSC has scheduled a general assembly meeting to review financials, approve dividends, and appoint auditors, indicating a stable financial outlook.
The United Foods Company PJSC, a prominent player in the food and beverage sector within the UAE, has announced an upcoming general assembly meeting scheduled for April 28, 2025. This assembly is pivotal as it will address several critical aspects of the company's financial health and strategic direction.
Among the key agenda items, shareholders will review and approve the Directors' report and the Auditor's report for the fiscal year ending December 31, 2024. These reports are crucial as they provide insights into the company’s operational efficiency and financial integrity over the past year.
Furthermore, the meeting will discuss the company’s financial position, including the profit and loss statement, which is expected to reflect the company’s resilience amidst a challenging economic landscape. The company's proposal to distribute cash dividends amounting to AED 30,250,000, representing 100% of the share capital, underscores its commitment to delivering value to its shareholders.
Additional resolutions include the discharge of directors and auditors, approval of board remunerations, and the appointment of external auditors for 2025. These decisions are integral to maintaining governance standards and ensuring transparency in financial reporting.
Notably, the meeting will also consider a special resolution involving significant transactions with clients like Modern Bakery LLC and UNIKAI PSC, reflecting the company's robust client relationships and steady revenue streams in edible oil and ghee sales.
In light of these developments, investors are advised to closely monitor the outcomes of the general assembly. The company's strategic decisions and financial performance indicators suggest a stable outlook, with potential for growth driven by strong client partnerships and effective governance.
Given the company's solid financial footing and shareholder-friendly policies, the recommendation is to hold the instrument. This stance allows investors to benefit from potential appreciation in share value while enjoying dividend payouts.
Source
Summary
United Foods Company (PJSC) invites its shareholders to attend the general assembly meeting on Monday, April 28, 2025, at 2:00 PM at the company's main office in Al Quoz, Dubai, or via a real-time visual communication app. The meeting agenda includes reviewing and approving the Directors' and Auditor's reports, discussing the company's financial position and profit and loss statement for the year ended December 31, 2024, and considering the proposal to distribute cash dividends totaling AED 30,250,000. Other items include discharging or dismissing directors and auditors, approving board members' remunerations, and appointing external auditors for 2025. Special resolutions include details about sales to clients Modern Bakery and UNIKAI. Shareholders are advised on proxy representation, voting rights, and the availability of company reports. If the required quorum is not met, a second meeting will be held on May 5, 2025. Shareholders are encouraged to update their contact details with the Dubai Financial Market to ensure receipt of dividends.
