Saudi Steel Pipe shareholders approve withholding dividend for FY2019

Saudi Steel Pipe Co.’s (SSP) shareholders approved withholding dividend for the fiscal year 2019 during the ordinary general meeting (OGM) held on June 28, 2020.

They also approved financial statements, as well as board and auditor report for FY2019, the company said in a bourse filing on Monday.

Additionally, shareholders discharged board members from liability for FY2019 and appointed PFK Al- Bassam & Co. (Allied Accountants) as new external auditor to audit financial statements for Q2, Q3, Q4, FY2020, and Q1 2021.

During the meeting, they also endorsed board remuneration at SAR 2.76 million for FY2019, as well as the business contracts signed between the company and other entities.