Savola Group BOD Decides not to Distribute Dividends for the Year 2023

The Savola Group announced today, February 7, 2024, the decision of its Board of Directors (BOD), not to distribute cash dividends for the year 2023 due to the recommendation related to distributing Savola’s entire share in Almarai Company to Savola’s shareholders, amounting to 34.52%, which will be subject to the approval of the regulatory authorities and the approval of the Shareholders General Assembly, according to the company’s announcement on the financial market website (Tadawul) today, Wednesday.

This comes with reference to the Savola Group’s (Savola) policy related to the distribution of dividends, and in light of the BOD’s recommendation to issue pre-emptive rights to strengthen its financial position and enable Savola to distribute its entire stake in Almarai Company to Savola’s shareholders.