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Shaker’s shareholders approve no dividends for FY15

Shaker’s shareholders approve no dividends for FY15
Shaker reported a drop of 68.75% in profits (Photo archive)
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Riyadh-Mubasher: Al Hassan Ghazi Ibrahim Shaker’s ordinary general meeting agreed on 26 April to withhold dividends for the fiscal year 2015, and retain the earnings achieved in 2015, according to a bourse statement.

The board has recommended withholding FY15 dividends to enhance the company’s financial position as well as the future business growth.

During FY15, the Saudi firm reported a drop of 68.75% in profits to SAR 136.5 million as compared to SAR 436.9 million in FY14.