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GACO’s board decides No dividends for 2019

GACO’s board decides No dividends for 2019
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Riyadh – Mubasher: The board of Al Gassim Investment Holding Company (GACO) has decided not to distribute dividends for fiscal year (FY) 2019.

The decision is based on the recent financial results, as the company did not achieve profits in 2019, according to a statement to the Saudi Stock Exchange (Tadawul).

GACO reported an increase in annual net losses by around 90% to SAR 16.65 million last year, compared with SAR 7.7 million losses for 2018.

Moreover, the board has opted not to continue with the planned capital hike through a rights issue.