Al Akaria cancels dividend recommendation for FY 2018

Saudi Real Estate Co.’s (Al Akaria) board of directors has decided to withhold its recommendation for distributing cash dividend for fiscal year 2018 due to the decline of retained earnings.

The decision is pending approval from the company’s general assembly.

In January, Al Akaria’s board of directors recommended a 5 percent cash dividend for the fiscal year 2018, at SAR 0.5 per share, amounting to SAR 120 million, according to data compiled by Argaam.