Riyadh-Mubasher: Al Hassan Ghazi Ibrahim Shaker said its board recommended freezing dividends for 2015, according to the company’s filing to the Saudi bourse.

The dividend freeze aims to finance the company’s financial position and business growth.

The Tadawul-listed company operates with SAR 630 million in capital, divided into 63 million shares at a par value of SAR 10 each.

FY15 earnings reached SAR 137 million, a fall of 69% compared with SAR 437 million a year earlier.

The stock closed Sunday 1.55% higher at SAR 22.90.