Maaden says won’t issue dividend for FY 2018

Saudi Arabian Mining Co. (Maaden) will hold off on issuing a cash dividend for fiscal year 2018.

During a general assembly meeting, shareholders also approved audited financial statements and audit reports for the fiscal year, which ended Dec. 31, 2018.

They also approved the board report for the same period, and discharged board members from liabilities during FY 2018.

Maaden reported a net profit of SAR 1.85 billion for FY 2018, compared to a profit of SAR 714.8 million in the previous year, according to data compiled by Argaam.