Riyadh – Mubasher: Northern Region Cement Company on Monday announced that the company’s shareholders had approved the board of directors’ proposal for not distributing cash dividends for 2018 during an ordinary general meeting (OGM) held the previous day.

The OGM also approved distributing remuneration for the board members at SAR 200,000 for each member for the fiscal year ended 31 December 2018, according to a statement to the Saudi Stock Exchange (Tadawul).

On 19 March, the Saudi firm’s board of directors recommended not to distribute cash dividends for 2018 in a bid to support the company’s growth.

For the full-year 2018, the cement producer’s profits plunged 75.3% to SAR 13.09 million, compared to SAR 52.95 million in the prior year.