Mubasher: Saudi Arabian Mining (Maaden) will hold its extraordinary general meeting (EGM) on 2 April to overview the board’s recommendation of not distributing dividends for fiscal year 2016, according to a bourse statement issued on Monday.
The shareholders will also discuss the income statements of the fiscal year, as well as amending the company’s statute.
Maaden’s board members have proposed in January to not distribute dividends for FY16 as the company continues to build and finance fundamental projects, as well as the current economic conditions, the statement noted.
