Herfy board recommends dividend freeze for 2021, first time since listing

14/12/2021 Argaam

A branch of Herfy Food Services Co.

Herfy Food Services Co.'s board of directors recommended, on Dec. 13, withholding cash dividends for 2021, the company said in a bourse filing.

 

The recommendation aims to support and strengthen the company’s financial position and expansion for the upcoming years.

 

The proposal is pending the approval of the next general meeting, whose date will be determined after obtaining the approval of the competent authorities.

 

This is the first time that Herfy decided to withhold dividend distribution since listing in 2010. 

 

The food service provider paid a cash dividend for 2020 at SAR 1 per share, according to data available with Argaam.

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