MBC plans dividend freeze to support operations

08:49 AM (Mecca time) Argaam
Logo ofMBC Group Co.

Logo of MBC Group Co.

MBC Group Co.’s board of directors recommended withholding dividends for the year ended Dec. 31, 2024.

 

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The proposal aimed at expanding current and future operations, preserving liquidity, and strengthening the financial position of the company, according to a statement to Tadawul.

 

The proposal will be presented before the upcoming shareholders’ meeting for approval, which will be scheduled later after obtaining necessary approvals.

 

According to data available on Argaam, MBC hasn’t distributed any cash dividends since its listing on Tadawul in January 2024. The company announced in May 2024 its board recommendation to withhold dividends for 2023.

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