Sadr Logistics board recommends withholding dividends for 2022

27/12/2022 Argaam

Sadr Logistics board recommends withholding dividends for 2022

Logo of Sadr Logistics Co.

Sadr Logistics Co.’s board of directors recommended, during its meeting on Dec. 26, not to distribute cash dividends for the fiscal year ending Dec. 31, 2022, according to a statement on Tadawul.

 

The decision aims to allow Sadr Logistics to strengthen its financial position, and support the company’s upcoming expansions and projects, the statement added.

 

This recommendation will be presented for voting during the next general assembly meeting, which will be scheduled after obtaining the necessary permits from the competent authorities.

 

According to data compiled by Argaam, Sadr Logistics’ shareholders approved last June, board’s recommendation to withhold dividends for 2021.

 

It is worth mentioning that the company distributed cash dividends to its shareholders at 5% of the capital, or SAR 0.5 per share, for 2020.

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