Al Hammadi board approves 3-year dividend policy as of Q3 2022

A hospital of Al Hammadi

Al Hammadi Company for Development and Investment’s board of directors approved today, Aug. 23, the company's dividend policy for the next three years starting from the third quarter of 2022, the company said in a statement to Tadawul today, Aug. 23.

The dividend policy, as approved by the board of directors, remains subject to ratification in the upcoming general assembly meeting, which will be announced later. The dividend policy aims to maintain a minimum level of dividend per share on a quarterly basis.

Based on the dividend policy, Al Hammadi is committed to paying at least 60% of its quarterly net profit for the next three years.

This policy will remain subject to modification based on any material changes to the strategy and business of the company, including the business environment where it operates.

It is also subject to the laws and regulations applicable to the company, and any banking, other funding or credit rating covenants that the firm may be bound to follow from time to time.