Makkah Construction board recommends no dividend for FY2021/22

01/03/2022 Argaam

Logo of Makkah Construction and Development Co.

Makkah Construction and Development Co.’s (MCDC) board of directors recommended, on Feb. 28, withholding dividends for the fiscal year ended 29 Rabi Al-Thani, 1443 (Dec. 4, 2021), the firm said in a statement to Tadawul.

 

The decision came after the company failed to achieve profits in 2020, due to the repercussions of the coronavirus pandemic.

 

The dividend freeze recommendation was made as the company did not make profit this year, on the COVID-19 pandemic.

 

The company did not distribute dividends for the fiscal year ended 30 Rabi Al-Thani, 1442.

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