SACO board recommends no dividend for 2022

21/03/2023 Argaam
Logo ofSaudi Company for Hardware (SACO)

Logo of Saudi Company for Hardware (SACO)

Saudi Company for Hardware’s (SACO) board of directors recommended, on March 20, withholding dividend for 2022, according to a statement to Tadawul.

 

The reason for recommendation is to finance the working capital, the company said.

 

It added that the proposal is pending the approval of the upcoming general assembly.

 

SACO’s board recommended no dividend for 2021 to support working capital and developmental projects, according to data compiled by Argaam.

 

The company distributed SAR 1.25 cash dividend for 2020 (SAR 0.50 for H1 2020 and SAR 0.75 for H2 2020).

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