SACO approves dividend freeze for H2 2019

Saudi Company for Hardware's (SACO) shareholders approved the board's recommendation on a dividend freeze for H2 2019, the company said in a bourse filing.

This came during the company's ordinary general meeting held on April 30, 2020.

Shareholders also authorized the board to pay interim dividend on a quarterly or a semi-annual basis for FY2020, in line with the company's cash flows and expansionary plans.

SACO had paid cash dividend at SAR 1 for H1 2019, Argaam reported.