Savola board decides dividend freeze for 2024

08:37 AM (Mecca time) Argaam
Logo ofSavola Group

Logo of Savola Group

Savola Group’s board of directors decided on March 11 to withhold dividends for 2024, according to a statement to Tadawul.

 

The decision was based on Savola distributing SAR 21.1 billion worth of shares to eligible shareholders, representing its entire share in Almarai Co. reaching 34.52%.

 

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This took place through a capital reduction of SAR 8.3 billion, and the distribution of in-kind profit at SAR 12.8 billion to shareholders, deposited at their accounts in December 2024, the statement added.

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