SPIMACO board proposes to withhold 2023 dividends

31/03/2024 Argaam
Logo ofSaudi Pharmaceutical Industries and Medical Appliances Corp. (

Logo of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO)

Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) board of directors recommended, on March 29, withholding the dividend payment for 2023.

 

In a statement to Tadawul, the company clarified that the decision to hold the dividend payment for last year was due to its reported losses.

 

The proposal to abstain from paying dividends will be presented to the upcoming general assembly for voting.

 

According to data available on Argaam, SPIMACO’s losses decreased to SAR 13.2 million in 2023, compared to SAR 171.2 million losses a year earlier.

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