Middle East Paper Co.’s (MEPCO) board of directors recommended withholding cash dividend for fiscal year 2019, the company said in a bourse statement.
The step aims to support future growth of the company’s activities and maintain solvency margin.
The decision is pending approval of the general assembly.
MEPCO has previously paid cash dividend for FY2015 at SAR 0.5 per share. It also paid dividend for FY 2016 and FY2017 at SAR 0.75 per share.
In addition, the company distributed dividend for FY2018 at SAR 1 per share, according to data compiled by Argaam.
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