Dur shareholders approve dividend freeze for 2020

Logo of Dur Hospitality

Dur Hospitality Co. shareholders approved withholding dividend for 2020, during the ordinary general meeting (OGM) held on May 25, 2021, according to a bourse filing.

Shareholders also approved the board and auditor reports along with financial statements for 2020.

They also ratified the payment of SAR 1.8 million as remuneration for the board members for last year, and authorized the board to distribute profits on a semi-annual or quarterly basis for 2021.

Meanwhile, they approved all other items on the meeting’s agenda.

In March, the company’s board of directors recommended withholding the distribution of cash dividend to shareholders for 2020 to support and strengthen the company's financial position, as it did not report profits in 2020 due to the repercussions of the pandemic.