ALEID FOODS held the Ordinary and Extraordinary General Assembly Meeting of Al-Eid Food Company for the fiscal year ending on December 31, 2020, in an atmosphere filled with enthusiasm and passion for a promising future and continuous growth.
During Aleid Foods’ Annual General Meeting (AGM) held today, shareholders approved the distribution of cash dividend of 5% of the nominal share price in addition to 20% bonus shares for the fiscal year ended December 31, 2020. Dividend will be distributed to shareholders registered in the Company’s register.
The AGM also approved the Board’s proposal to deduct 10% of earnings and place it in its voluntary reserve, in addition to another 10% in its statutory reserve.
Aleid Foods Company revealed the activation of its strategic cooperation with City Center a prominent hypermarket chain across Kuwait, to produce and supply a variety of baked goods and sweets in all its branches across the country in addition to managing the operations of the bakery section in six main branches of City Center stores in Kuwait.
Aleid Foods Company announced the creation of a new department in its organizational administrative structure specialized in commercial development, and the appointment of Abdullah Khaled Al-Ghanim as its director, as part of its future operational plan to raise its position and achieve its strategic objectives…
Aleid Foods Company launched an initiative within the company social responsibility clause for 2021, in cooperation with “Ghaya Online”, to support and create the e-business environment for a number of small and medium enterprises that have been economically affected by the COVID-19 pandemic. The initiative includes the creation of 100 websites for marketing of goods and services provided by emerging and medium enterprises in order to improve their presence and contribute in enhancing the performance of their national capacity for a better future for Kuwait.
Muhammad Saud Al-Mutairi, CEO of Aleid Foods Company, commented on this partnership by saying: “Aleid Foods Company started the restructuring planning process three years ago, in preparation for supporting its long-term growth by introducing new products and acquiring regional and international commercial agencies”. Al-Mutairi noted the company’s strategy is to establish a strong base of modern services in the field of marketing, especially the digital ecosystem and e commerce, expressing his great pleasure in cooperating with Click Ventures and affirming his confidence in its experience and ability to implement the future digital strategy of Aleid Foods Company.