Saudi Amiantit to withhold dividend for 2014

09/02/2015 Argaam

 

Saudi Arabian Amiantit Company’s board of directors said on Sunday that it will not issue a cash dividend for 2014.

The recommendation will be submitted to the general assembly, and the board will decide whether or not to issue a dividend for 2015.

The pipe manufacturer is trying to keep its financial position strong, according to the company’s statement to Tadawul, Saudi’s bourse.

Amiantit reported a net profit of SAR 82.6 million (SAR 0.72 per share) for 2014, according to data compiled by Argaam.

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