Abu Dhabi's Arkan not to pay dividends until end 2022 after debt moratorium | Property – Gulf News
Arkan, the Abu Dhabi based building materials company, will start paying off its loans and other commitments from mid-December 2022.
This follows a moratorium on repayments that it entered into its with principal lenders. But this comes with a clause – Arkan will not be making any dividend payments to shareholders until late 2022.
“In light of these challenging circumstances, the Board has decided not to pay dividends for the foreseeable future,” the company said in a statement. “Furthermore, the priority of the company going forward will be to lower its significant leverage levels and it may need to explore further capital structure options in the future.”
Arkan tapped restructuring specialists Rothschild & Co to come up with a plan to resolve its debt burden and payment obligations.
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