Bahrain's Ithmaar Holding to forgo dividends for 2020 after losses

Firm's net loss reached more than $41mln last year

  
Traders are seen at Bahrain Bourse in Manama, Bahrain, September 16, 2019.

Traders are seen at Bahrain Bourse in Manama, Bahrain, September 16, 2019.

REUTERS/ Hamad I Mohammed

Bahrain’s Ithmaar Holding has decided not to distribute dividends on ordinary shares for the full year 2020, it said in a statement to the Dubai Financial Market Sunday.

The announcement comes after the company reported a net loss of $41.72 million last year, compared to the net profit of $0.67 million in 2019.

During the fourth quarter of 2020, Ithmaar made a net loss of $38.43 million, higher than the net loss of $11.38 million for the same period in 2019.

(Writing by Brinda Darasha; editing by Cleofe Maceda)

brinda.darasha@refinitiv.com

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