Red Sea to withhold dividend for FY 2018

12/05/2019 Argaam

 

Red Sea International Co.’s general assembly has approved a board recommendation to hold off on issuing a cash dividend for fiscal year 2018 due to realization of net loss during the period, the company said in a statement.

 

The decision is pending approval by the company’s general assembly.

 

Red sea reported a net loss of SAR 90.7 million in FY 2018 from a loss of SAR 69.7 million in FY 2017, according to data compiled by Argaam.

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