Saudi German Health shareholders approve dividend freeze for 2023

Middle East Healthcare Co.’s (Saudi German Health) shareholders approved the board recommendation to withhold dividends for 2023, during the extraordinary general meeting (EGM) held on June 13, according to a statement to Tadawul.

Shareholders further ratified a number of business contracts, which included the Chairman, Vice-Chairman or board members as related parties.

The company’s board of directors recommended, on March 30, paying no dividends for 2023, in an attempt to support expansions and current construction projects, Argaam earlier reported.

Furthermore, the company was also renovating existing hospitals as well as upgrading the systems and medical equipment.

Saudi German Health last paid dividend at SAR 2 per share, or 20% of the capital, for 2017.