Dallah negotiating about advanced medical center, committed to dividend policy: Chairman

Chairman Tariq Othman Al-Qassabai

Dallah Healthcare Co. is negotiating with local and international entities as regards an advanced medical center and waiting for the final memorandum, said Chairman Tariq Othman Al-Qassabai.

In a press conference to comment on Q3 2021 financials, he added that the company is studying several expansion projects and seeks to achieve growth permanently.

Al-Qassabai also said the company is committed to its policy of distributing 40-60% cash dividend, noting that Dallah has strong cash flow.

The healthcare provider does not face any difficulty in repaying loans, distributing cash dividends or financing its expansion projects, the top official said.

He further said the increase in the number of auditors was mainly behind the growth in the company's business over the last three centuries, as well as pharmaceutical sales and medical supplies.

The group's business volume grew more than three times since its listing on the stock market, and it currently owns five leading healthcare facilities serving more than 1.5 million patients across the Kingdom, with more than 900 beds and 500 outpatient clinics.

Dallah reported a net profit after Zakat and tax of SAR 86.5 million in Q3 2021, a rise of 61% year-on-year (YoY), due to higher other income and gains from acquisition of shares in subsidiaries, according to data available with Argaam.