Sadr Logistics board recommends no dividend for 2021

06/04/2022 Argaam
Logo ofSadr Logistics Co.

Logo of Sadr Logistics Co.

Sadr Logistics Co.’s board of directors recommended on April 5 to withhold dividends for 2021, according to a bourse statement.

 

The decision aims to help strengthen the company's financial position and support its upcoming expansions and projects.

 

The recommendation will be presented for voting during the next general assembly meeting, the date of which will be determined after taking approval from official authorities, the statement noted.

 

In December, Sadr Logistics shareholders approved increasing capital from SAR 25 million to SAR 175 million through rights issue worth SAR 150 million, Argaam earlier reported.

 

The company distributed cash dividends to its shareholders at 5% of the capital (SAR 0.5 per share), for 2020.

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