Al Yamamah Steel board recommends no dividend for FY 2024/25

04:21 PM (Mecca time) Argaam
Logo ofAl Yamamah Steel Industries Co.

Logo of Al Yamamah Steel Industries Co.

Al Yamamah Steel Industries Co.’s board of directors recommended today, Dec. 28 that no cash dividends be distributed for the fiscal year ended Sept. 30, 2025.

 

The dividend freeze is aimed at supporting the company’s financial position and financing its expansion projects, including the capital increase of its subsidiary, Al Yamamah Company for Reinforcing Steel Bars, the company said in a statement to Tadawul.
 
The recommendation will be submitted for approval at the upcoming ordinary general meeting (OGM), with the meeting date to be announced later.
 
Al Yamamah Steel’s net profit declined to SAR 59.7 million for FY 2024/25, compared with SAR 70.8 million a year earlier, Argaam reported.

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