Foods Gate shareholders OK dividend freeze for 2022

Logo of Foods Gate Trading Co.

Foods Gate Trading Co.’s shareholders approved, during the ordinary general meeting (OGM) held on June 22, the board’s recommendation to withhold dividends for the fiscal year ended on Dec. 31, 2022.

In a statement to Tadawul, the company pointed out that all the OGM agenda items were approved.

In May, Foods Gate’s board of directors recommended withholding dividends for 2022, Argaam earlier reported.

The recommendation aims to continue boosting the company's existing and future business, as well as supporting its liquidity and financial position.