Fitaihi Recommends Non-Distribution of Cash Dividends for the 2nd Half of 2021
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| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Fitaihi Holding Group announces the recommendation of the Board of Directors to the General Assembly of the non-distribution of cash dividends to shareholders for the second half of 2021. |
| Date of the board’s decision | 2022-03-27 Corresponding to 1443-08-24 |
| Reasons for Not Recommending Distribution | The Board’s recommendation not to distribute dividends for the second half of the fiscal year 2021 is due to its aim to finance the investments operations of the Group to increase the return on shareholders’ equity. Worth mentioning that the Company has distributed to its shareholders, for the first half of the fiscal year 2021, on November 30, 2021, SAR 13,750,000, 50 Halalas per share, which is 5% of the nominal share value. |
| Approvals | The Board recommendation will be submitted for voting in the upcoming General Assembly Meeting that will be scheduled after obtaining the regulatory approval. |
