The board of Etihad Etisalat (Mobily) decided to withhold dividends for the first quarter of the fiscal year 2015.

The telecom operator’s board will assess the feasibility of distributing dividends in the coming quarters, in light of the company’s goals and investors’ aspirations, according to a bourse filing.

Mobily earlier logged SAR 199 million in net losses for Q1, which was ascribed to higher expenses.