City Cement board recommends no dividend 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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