Maaden shareholders approve withholding dividend for FY17

Saudi Arabian Mining Company’s (Maaden) general assembly approved the board of directors’ recommendation to withhold dividend for fiscal year 2017, the company said in a statement to Tadawul on Sunday.

Last month, Maaden said the money would instead be used to execute ongoing projects.

During the meeting on Thursday, shareholders also approved the discharge of members from liabilities for their activities during FY17, as well as the appointment of PricewaterhouseCoopers as external auditors.