Alkhaleej Training board recommends dividend freeze for 2021

29/03/2022 Argaam
Logo ofAlkhaleej Training and Education Co.

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co.’s board of directors recommended, on March 28, withholding dividends for 2021, the company said in a filing to Tadawul today, March 29.

 

The recommendation will allow the company to focus on acquisitions and expansions in the education sector, provide the necessary funding, and support its financial position.

 

The proposal is pending the approval of the upcoming ordinary general meeting.

 

In November 2021, the company’s shareholders approved the board’s recommendation to increase capital from SAR 450 million to SAR 650 million via a SAR 200 million rights issue during the extraordinary general meeting (EGM). 

 

The capital top-up was aimed to drive expansion in the education sector by acquiring schools. 

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