Riyadh – Mubasher: Shatirah House Restaurant Company, known commercially as Burgerizzr, has announced the results of its Extraordinary General Assembly meeting held on 24 June 2026 during which the shareholders approved a series of significant resolutions.
The investors agreed to a cash dividend distribution for the 2025 fiscal year, a strategic share buyback program for treasury purposes, and the appointment of new external auditors.
A primary highlight of the assembly was the approval of a cash dividend totaling SAR 5.60 million for the fiscal year ended on 31 December 2025. This equates to a payout of SAR 0.10 per share, representing 10% of the nominal value.
Eligibility for the dividend is set for shareholders owning stock at the close of trading on the day of the assembly, with distribution scheduled to commence through Al Rajhi Bank on 5 July 2026.
Furthermore, the board of directors received authorization to distribute interim dividends on a semi-annual or quarterly basis for the 2025 fiscal year.
The assembly also granted approval for a share buyback program, allowing the company to purchase up to 1.30 million of its own shares to be held as treasury stock. This program is divided into two segments, including 300,000 shares designated for an employee stock incentive plan, while the remaining 1 million shares are intended for potential exchange transactions, acquisitions, or asset purchases.
The company is authorized to complete the buyback within 18 months and may hold the treasury shares for a maximum of 10 years. Funding for these purchases will be sourced from internal resources, available credit facilities, or a combination of both.
In terms of corporate governance and auditing, shareholders approved the discharge of board members from liability for the 2025 fiscal year and authorized board remuneration totaling SAR 2.68 million.
The assembly also approved an additional fee of SAR 80,000 for the previous auditor, Dr. Mohamed Al Amri & Co. (BDO), for extra work performed during the 2025 and early 2026 audit cycles.
Moving forward, PKF Al-Bassam was appointed as the company’s auditor to review and audit financial statements for the remainder of 2026 and the first quarter (Q1) of 2027 for a total fee of SAR 549,000.
The meeting also addressed several related-party transactions involving Chairman Mohammed Ali Al Ruwaigh. Shareholders ratified contracts with Yaswa Logistics Foundation, which included delivery services valued at approximately SAR 7.23 million and an office lease agreement worth SAR 41,400 during 2025.
The company confirmed that these agreements were conducted on standard commercial terms without preferential conditions.
Additionally, an amendment to Article 17 of the company’s Bylaws was approved, clarifying the powers of the Chairman, Vice Chairman, Managing Director, and Board Secretary.
The resolutions passed during this assembly reflect Burgerizzr’s focus on maintaining shareholder returns while establishing the infrastructure for future growth through employee incentives and potential acquisition-driven expansion.
By securing approvals for both dividend flexibility and share buybacks, the board has positioned the company to manage its capital structure and operational requirements through the upcoming fiscal periods.
