Two major shareholders of Naqi Water waive 50-60% of dividends for 3 years

Logo of Naqi Water Co.

Naqi Water Co. said it received two letters today, Jan. 20, from two major shareholders. The first letter from shareholder Ameen bin Abdullah Al-Mallah (the board Chairman), while the second letter was from shareholder Saqa United Group, each owning 7 million shares, or 35% of capital.

According to a statement to Tadawul, the two letters included the waiver of the two shareholders of 50% of dividends for the year 2026, their waiver of 55% of dividends for the year 2027, and 60% of dividends for the year 2028.

Naqi Water stated that the purpose is to maintain stability and support its financial position, sustain the balance of its investment and financial position, enhance investor confidence, and enable it to continue implementing its expansion projects and growth plans previously announced. The move also came given their firm confidence in the company’s performance and executive management, and their belief in its ability to continue executing its expansion plans successfully.

Naqi Water’s board of directors approved on Jan. 19 a recommendation to adopt the company’s dividend distribution policy for the next three years. The dividend distribution policy is SAR 2 per share for 2026, at 20% of the share’s nominal value; SAR 3 per share for 2027, representing 30% of the share’s nominal value; and SAR 4 per share for 2028, or 40% of the share’s nominal value, data available with Argaam showed.