Lazurde general assembly approves withholding dividend for FY2019

Lazurde Company for Jewelry’s (Lazurde) shareholders approved, during the ordinary general assembly meeting held on June 3, 2020, the recommendation of the board of directors to withhold dividend for the fiscal year 2019.

Shareholders also approved authorizing the board of directors to distribute interim dividends for FY 2020 on a semi-annual or quarterly basis, and determine the disbursement date according to the laws and regulations in line with the Companies Law.

In March, Lazurde’s board of directors recommended withholding dividend for the fiscal year 2019 to strengthen the company’s cash position and grow revenues, according to data compiled by Argaam.