Saudi Catering postpones dividend payment for Q4 2019

The board of directors of Saudi Airlines Catering Co. postponed on March 20 the dividend distribution for Q4 2019 until further notice.

The Saudi Company announced last month that dividend was to be paid on March 26, 2020.

The company said in an addendum statement to Tadawul that the step came as a precautionary measure to maintain cash balance over the coming period, as the Kingdom's preventive measures over the COVID-19 outbreak may be sustained for a longer period.

This decision does not affect the record date of March 12, 2020, as was previously announced.

The Board of Directors of Saudi Airlines Catering Co. recommended on Feb. 17, 2020 a 14% cash dividend for the fourth quarter of 2019, at SAR 1.4 per share, amounting to SAR 114.8 million, Argaam reported earlier.