Riyadh – Mubasher: Al Hammadi Company for Development and Investment’s board recommended not to distribute dividends for 2016.
The company said that the decision is to maintain a strong and healthy cash flow position to continue supporting its operations and current and future projects, in line with the strategy of the Kingdom Vision 2030 and the Transformation Program 2020.
The board’s decision will be presented to the next general assembly, according to a bourse filing on Monday.
Hammadi posted a net profit of SAR 74.7 million in 2016 compared to SAR 141.3 million in 2015, with a 47.2% decline.
