Balady OKs dividend freeze for H2 2024

Logo of Balady Poultry Co.

Shareholders of Balady Poultry Co. approved the board of directors’ recommendation to withhold dividends for H2 2024, during the ordinary general meeting (OGM) held on May 27, according to a statement to Tadawul.

 

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Board members were also discharged from liability for the same year, and shareholders ratified the disbursement of SAR 541,670 in board remuneration for 2024. Further, a sum of SAR 300,000 was allocated for social service activities for 2025.

 

Balady board decided in April to withhold dividends for H2 2024 to strengthen the expansion plans. It distributed cash dividends at 20%, or SAR 2, for H1 2024, data compiled with Argaam showed.

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