SACO board proposes dividend freeze for 2024

09/03/2025 Argaam

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Logo ofSaudi Company for Hardware (SACO)

Logo of Saudi Company for Hardware (SACO)

The board of directors of Saudi Company for Hardware (SACO), in a meeting on March 6, recommended withholding dividends for 2024, according to a statement to Tadawul.

 

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The decision was aimed at strengthening the company’s financial position and achieving its turnaround objectives.

 

This recommendation will be subject to shareholders’ approval at the upcoming general meeting, the statement added.

 

SACO’s last dividend payment was in 2020 at 12.5%, or SAR 1.25 a share, data compiled with Argaam showed.

 

It also sustained SAR 14.1 million loss in 2024, compared to a loss of SAR 69 million in 2023, with Q4 2024 earnings at SAR 3.4 million.

 

 

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