Saudi German Health board recommends dividend freeze for 2021

31/03/2022 Argaam

Logo of Middle East Healthcare Co. (Saudi German Health)

Middle East Healthcare Co. (Saudi German Health) board of directors recommended today, March 31, withholding dividend for 2021, according to a bourse filing.

 

The proposal was attributed to support the company's expansion and under-construction projects. It will continue the renovation of existing hospital buildings, as well as upgrading the systems and medical equipment. This will improve the operation of the hospitals and increase the firm’s investment in the healthcare sector.

 

The board proposal is pending the approval of the upcoming general meeting. Saudi German Health reported a net profit of SAR 17.2 million in 2021, compared to SAR 82 million a year earlier.

 

Saudi German Health reported a net profit of SAR 17.2 million in 2021, compared to SAR 82 million a year earlier.

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