Al Hammadi shareholders OK 3-year dividend policy starting Q3 2022

Logo of Al Hammadi Holding

Al Hammadi Holding shareholders approved the company’s dividend policy for the coming three years starting Q3 2022, during the ordinary general meeting (OGM) held on April 13, according to a statement to Tadawul.

Shareholders also authorized the board of directors to pay an interim cash dividend for 2024 on a semi-annual or a quarterly basis.

In August 2022, the Saudi medical services provider’s board endorsed a dividend policy, which entailed the payment of at least 60% of net profit per quarter for the coming three years starting Q3 2022.

This policy will remain subject to modification based on any material changes to the strategy and business of the company, including the business environment where it operates.

It is also subject to the laws and regulations applicable to the company, and any banking, other funding or credit rating covenants that the firm may be bound to follow from time to time.