Budget Saudi board recommends lower dividends

Recommended dividends for H2-19 were lowered from 15% to 5%

  

Riyadh – Mubasher: The board of United International Transportation Company (Budget Saudi) has cancelled its previous recommendation for distributing SAR 1.5 per share as cash dividends for the second half (H2) of last year.

The board has modified its recommendation to distribute SAR 0.5 per share, representing 5% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).

Accordingly, the newly proposed dividends stand at a total value of SAR 35.58 million.

The decision comes as the company’s board wants to retain liquidity in the face of potential risks as a precautionary measure.

Source: Mubasher

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