SPIMACO board recommends no dividend for 2022

29/03/2023 Argaam

SPIMACO board recommends no dividend for 2022

Logo of Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO)

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO)'s board of directors recommended on March 28, withholding dividend for 2022, according to a statement to Tadawul.

 

The recommendation came after the company reported a net loss in 2022.

 

It is subject to the shareholders’ approval during the next general assembly, the date for which will be determined after obtaining the competent authorities’ consent, the statement added.

 

According to data compiled by Argaam, SPIMACO reported SAR 165.6 million losses in 2022, compared to SAR 26.5 million profit in 2021.

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