National Building board recommends dividend freeze for 2021

28/03/2022 Argaam
Logo of National Building and Marketing Co. (NBM)

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co.’s (NBM) board of directors recommended, on March 27, withholding dividend for 2021, according to a bourse filing.

 

The board proposal was attributed to the company’s plans to proceed with financing its ongoing, as well as future projects, boost liquidity and bolster its financial position.

 

The board proposal is pending the approval of the upcoming general meeting.

 

NBM did not pay any dividend since listing on Nomu - Parallel Market in April 2018.

 

The company reported a net profit of SAR 80.7 million in 2021, compared to SAR 30.2 million a year earlier.

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