Electrical Industries board recommends no dividend for 2022

29/03/2023 Argaam
Logo ofElectrical Industries Co. (EIC)

Logo of Electrical Industries Co. (EIC)

The board of directors of Electrical Industries Co. (EIC) recommended, on March 28, paying no dividend for 2022.

 

The move is driven by the company’s plans to support and strengthen its financial position to deliver its business growth strategy, EIC said in a statement to Tadawul.

 

The proposal is pending the approval of the upcoming general assembly.

 

The company paid a 10% cash dividend, or SAR 1 per share, for 2021 and a 5% dividend, or SAR 0.50 per share, for 2020. It withheld dividends for 2018 and 2019, according to the data available with Argaam.

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