Dallah Healthcare committed to dividend policy, mulls expansions in Makkah: Chairman

Tariq Othman Al-Qassabai, Chairman of Dallah Healthcare Co.

Dallah Healthcare Co. is committed to its dividend policy and will maintain it, thanks to the available cash liquidity, board chairman Tariq Othman Al-Qassabai told Argaam in a telephone interview.

Dallah generated a cash profit in the first quarter of the year, driven by improvement in hospital operations, Al-Qassabai said, adding that the company’s assets are not subject to reassessment.

Moreover, the acquisition of Care Shield Holding Co. (CSHC) from Kingdom Investment and Development Co. (KIDC) and Makkah Medical Center Co. reflected positively on Dallah’s income and profitability.

“Dallah Healthcare is seeking expansions in Makkah,” Al-Qassabai added, noting that new expansions will be financed by the company’s strong cash flows along with loans from various sources.

The healthcare group reported a net profit after Zakat and tax of SAR 54.6 million for Q1 2021, a sharp rise from a profit of SAR 19.2 million in the same period last year, Argaam reported.

The company distributed a 7.5% cash dividend, or SAR 0.75 per share, for 2020.