Lazurde OGM OKs 2024 dividend freeze, denies board discharge

01/06/2025 Argaam
Logo ofLazurde Co. for Jewelry

Logo of Lazurde Co. for Jewelry

Shareholders of Lazurde Co. for Jewelry approved the board of directors’ recommendation to withhold dividends for 2024, during the ordinary general meeting (OGM) held on May 29.

 

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In a statement to Tadawul, the company said shareholders also authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2025.

 

Shareholders further rejected the proposal to discharge board members from liability for 2024.

 

According to data available with Argaam, Lazurde’s board decided in March to withhold cash dividends for 2024 in order to support and strengthen the company’s financial position and maintain a healthy solvency margin to finance future growth plans.

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