Saudi German Health shareholders to vote on withholding 2021 dividends on June 16

Logo of Saudi German Health

Shareholders of Middle East Healthcare Co.’s (Saudi German Health) will vote on the board’s recommendation not to distribute cash dividends for 2021, during the ordinary general assembly meeting (OGM) scheduled for June 16, the company announced in a bourse statement.

The shareholders will also vote on delegating the board of directors he OGM powers for one year from the shareholders’ approval date or until the end of the board term, whichever is earlier.

Furthermore, they will vote on other agenda items, including the participation of the company in the capital of Sobhi Abdul Jalil Batterjee Medical Hospital (Al Sobh New Medical Co.) with SAR 70 million, in which the chairman, Batterjee and some board members have indirect interests.

In March, the company’s board of directors recommended withholding cash dividends for 2021, in order to support expansion and under-construction projects, Argaam reported.