United International Transportation (Budget Saudi Arabia) has canceled the recommendation of the Board of Directors to distribute 15% cash dividends of the capital (1.5 riyals per share) for the second half of 2019 with a total amount The amount is 106,750,002 riyals.
According to ArabiaNet, the company explained in a statement that the board of directors had been modified and re-recommended to distribute a cash dividend of 5% of the capital (equivalent to 0.50 riyals per share) for the second half of 2019, with a total amount of 35,583,334 riyals.
She indicated that this decision comes in the interest of the Board of Directors to maintain the level of available liquidity and cash flows for the company, which it needs during the coming period to ensure the continuation of its work throughout the prevention period, which is difficult to determine the duration of its continuation as a result of the precautionary measures and preventive measures taken by the competent authorities to control and limit the spread of a virus Corona Coffed 19.
She added that the decision comes as a precautionary measure to maintain the available liquidity during the coming period in order to face the possible risks that may occur in the future represented in the possibility of a lack of cash flows due to the impact of some of the company's actions resulting from the continuation of the preventive measures and measures taken by the competent authorities that may extend for longer periods.
