City Cement board recommends no dividend for H2 2024
City Cement Co. 's board of directors recommended on May 21 to withhold dividends for H2 2024.
The decision aims to support its financial position until the completion of the acquisition deal, the company said in a statement to Tadawul.
The recommendation will be submitted for approval in the upcoming shareholder meeting.
City Cement last paid dividend for H1 2024 at 5% (SAR 0.5 per share), data compiled by Argaam showed.
Last October, City Cement and Umm Al-Qura Cement Co. (UACC) signed a share-swap agreement, under which the latter will offer to acquire all UACC shares in exchange for newly-issued shares in City Cement.
The table below highlights the acquisition details:
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