Saudi German Health board proposes no dividend for 2023

One of Saudi German Health's hospitals

Middle East Healthcare Co.’s (Saudi German Health) board of directors recommended, on March 30, paying no dividends for 2023, according to a statement to Tadawul.

The decision came as the healthcare services provider seeks to support expansions and current construction projects.

Furthermore, the company is also continuing the renovation of existing hospitals as well as upgrading the systems and medical equipment. This will improve the operation of the hospitals and increase the company investment in the healthcare sector.

The recommendation will be discussed in the upcoming general assembly.

Saudi German Health’s net profit surged to SAR 180.2 million for 2023, compared to SAR 75.2 million a year earlier. The fourth-quarter bottom line stood at SAR 36.5 million.

The last dividend was paid by the company at 20%, or SAR 2 per share, for 2017.