Saudi Steel Pipe's shareholders to vote on dividend freeze for 2021 on May 24

28/04/2022 Argaam

Saudi Steel Pipe Co.'s shareholders will vote on withholding dividend for 2021, during the ordinary general assembly meeting, scheduled for May 24, according to a bourse filing.

 

The recommended dividend freeze comes on the back of accumulated losses as of Dec. 31, 2021.

 

The steel pipes manufacturer earlier posted a SAR 900,000 profit for 2021, against a SAR 34.5 million loss a year earlier.

 

Shareholders will also vote on appointing an auditor for Q2, Q3, Q4, FY2021 and Q1 2023 financial statements.

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