Siniora Food Industries Distributes USD 7.3 Million in Profits to Its Shareholders, Representing 23.63% of the Companys Paid-up; 10% as Cash Dividends Amounting to USD 3.1 Million, and 13.63% as Three Million Bonus Shares
Summary
Sinioras general assembly also ratified increasing the number of its board of directors from five to seven members and elected Ms. Lana Ghanem (Managing Director of Hikma Ventures) and Mr. Amin Abdulrahim (General Manager of Perfetti Van Melle - Middle East & Africa) as new independent board members in compliance with corporate governance regulations of public shareholding companies issued by the Jordanian Securities Commission.Aggad added that the strategy put in place by Sinioras management to foster and increase its market share at local and regional levels has paid off, as apparent by the significant results.He also pointed out the increase in sales of the companys frozen meat products in the Jordanian market in 2017, which marked 12% growth compared to 2016.Siniora produces cold cuts and canned luncheon meat from three state-of-the-art processing plants built using the latest technologies, one located in East Jerusalem, Palestine, the second located in King Abdullah II Industrial Estate in Jordan and the third in United Arab Emirates.Siniora also has distribution centers in Saudi Arabia, the United Arab Emirates and a dedicated export department covering the Gulf and the Levant.