Riyadh – Mubasher: Shareholders of Saudi Arabian Mining Company (Ma’aden) decided to withhold dividends for the year 2015 as the company seeks to finance core projects.
In a general meeting held on 7 March, shareholders also approved the company’s consolidated financial statements, the auditors’ reports, and the board’s report as well.
The mining company logged net losses of SAR 5.6 million in Q4-15, versus earnings of SAR 376 million in the year-ago period.
Further, net earnings for the 12-month period fell 55% year-over-year to SAR 605 million from SAR 1.3 billion.
On March 7, the stock’s close quote stood at SAR 31.40, seeing a slide of 0.88%.
