Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons on Sunday said its board recommended not to distribute dividends to shareholders for fiscal year 2016.
The board meeting held Thursday made this recommendation “to support the company’s financial position,” according to a statement to the Saudi Stock Exchange (Tadawul).
The recommendation will be presented at Al Khodari’s shareholder meeting, which will be determined at a later time.
The Saudi-listed company reported a loss of SAR 119.13 million in 2016, against SAR 33.5 million in net profits in 2015.
A shareholder meeting for Al Khodari is scheduled to meet on Monday to discuss electing a new board and forming a review committee, among other items on the agenda.
