L’azurde Company for Jewelry’s board of directors has recommended withholding cash dividend for the fiscal year 2018, the company said in a bourse statement.
The decision aims to support the company’s strategy of potential acquisitions to raise shareholders’ value.
“Following the successful acquisition of the TOUS franchisee in KSA in October 2018, the company is looking at other potential acquisitions, while ensuring future acquisitions are a strategic fit and accretive to earnings”, the statement added.
The decision is pending approval of the company’s general assembly.
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