Saudi Chemical Holding Co.’s board of directors recommended withholding cash dividend for the fiscal year 2019, the company said in a bourse statement.
The decision aims to support under construction projects, as well as financing existing and future projects.
The recommendation is pending the approval of the upcoming general meeting.
According to data compiled by Argaam, Saudi Chemical’s net profits fell 71% to SAR 32.9 million in FY2019 when compared to SAR 114.8 million in FY2018.
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