Riyadh – Mubasher: The Middle East Healthcare Company’s (Saudi German Hospital) general assembly has decided to cancel the fiscal year (FY) 2019 dividends following a recommendation from the company’s Board of Directors.

It further discharged the board from liability for 2019 and approved the financial statements for last year, according to a bourse disclosure on Tuesday.

A remuneration of SAR 1.4 million will be granted to board members for 2019, equivalent to SAR 200,000 per each member.

Moreover, a new board of directors has been elected for the coming three-year term starting 17 September 2020.

During 2019, the Saudi German Hospital posted an annual decline of 43.4% in net profits after Zakat and tax to SAR 97.57 million when compared to SAR 172.25 million.