Farm Superstores board recommends dividend freeze for 2021

30/03/2022 Argaam
Logo ofSaudi Marketing Co.’s (

Logo of Saudi Marketing Co.’s (Farm Superstores)

Saudi Marketing Co.’s (Farm Superstores) board recommended today, March 30, withholding cash dividends for 2021.

 

The move aims to strengthen the company’s financial position and support its expansion and renovation plans during the current year, according to a bourse statement.

 

This recommendation is pending approval of the upcoming general meeting.

 

Farm Superstores posted a 46.4% drop in net profit after Zakat and tax to SAR 20.8 million for 2021, compared to SAR 38.8 million a year earlier.

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