SPIMACO board recommends no dividend for 2022
- Date: 29-Mar-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
SPIMACO board recommends no dividend for 2022
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO)'s board of directors recommended on March 28, withholding dividend for 2022, according to a statement to Tadawul.
The recommendation is attributed to the company’s losses in the fiscal year ending on December 31, 2022.
It is subject to the shareholders’ approval during the next general assembly meeting that will be determined later, after obtaining the competent authorities’ consent, the statement added.
According to data compiled by Argaam, SPIMACO reported SAR 165.6 million losses in 2022, compared to SAR 26.5 million profit in 2021.
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