Farm Superstores approves dividend freeze for FY2019

Saudi Marketing Co.'s (Farm Superstores) shareholders approved the board's recommendation on withholding dividend for FY2019, during the ordinary general meeting (OGM) held on May 14.

Shareholders also approved financial statements, board's report, and auditor's report for fiscal year ending Dec. 31, 2019, the company said in a bourse statement.

Additionally, shareholders discharged board members from liability for FY2019, and appointed a new auditor for FY2020, and Q1 2021.

During the meeting, shareholders endorsed board remuneration at SAR 1.05 million for the FY ending Dec. 31, 2019, as well as the business contracts signed between the company and other entities.