Headquarters of Maaden
Saudi Arabian Mining Co.’s (Maaden) board of directors recommended withholding cash dividends for fiscal year 2020, the company said in a statement to Tadawul on Wednesday.
Maaden said that cash will be directed to execute ongoing and future projects.
The recommendation is subject to approval of the upcoming general assembly.
The Saudi mining firm narrowed net losses after Zakat and tax of SAR 209 million for 2020, from SAR 739.5 million a year earlier.
Maaden has paid no dividends since 2008.
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