Alandalus approves 3-year dividend policy

02/07/2024 Argaam
Alandalus Property Co.headquarters

Alandalus Property Co. headquarters

Alandalus Property Co.’s board of directors approved on July 1, 2024, a three-year dividend policy for 2024-2026, pending the approval of the upcoming general meeting, according to a statement to Tadawul.

 
The company intends to pay a semi-annual dividend of 60% of the annual net earnings for the three years, in line with the executive regulations of the Capital Market Authority (CMA) and the Companies Law.
 
 
However, this policy is subject to change based on sufficient profitability and its financial position, as well as the company’s cash flows, new capital investments and estimated external funding, given the importance of maintaining a strong monetary policy to hedge against any changes.
 
The policy is also subject to any restrictions due to potential loans, and any fundamental changes in the related laws and regulations.

 

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