A branch of Herfy Food Services Co.
Shareholders of Herfy Food Services Co. (Herfy Food) will vote on the board’s recommendation to not distribute cash dividends for 2021, during the ordinary general assembly meeting (OGM) scheduled for May 22, according to a bourse statement.
The shareholders will also vote on authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2022.
In December, Herfy’s board of directors recommended, on Dec. 13, withholding cash dividends for 2021, in order to support and strengthen the company’s financial position and expansion for the upcoming years, Argaam reported.
This is the first time that Herfy decided to withhold dividend distribution since listing in 2010.
The food service provider paid a cash dividend for 2020 at SAR 1 per share.
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