Savola board recommends no dividend for 2023

Logo of Savola Group

Savola Group’s board of directors recommended on Feb. 6 paying no dividends for 2023, the company said a statement to Tadawul.

The decision aligns with the board’s recommendation on a rights issue to enhance the company’s financial position and enable it to distribute its entire stake of 34.52% in Almarai to shareholders.

The decision is subject to the approval of regulatory authorities and Savola’s shareholders, the statement added.