Buruj’s board recommends dividend freeze for 2023

Logo of Buruj Cooperative Insurance Co.

Buruj Cooperative Insurance Co.’s board of directors recommended, on March 26, withholding dividends for 2023, the company said in a statement to Tadawul.

This recommendation came with the aim to support and strengthen the financial position of the company, the statement added.

The proposal is subject to the approval of the upcoming general meeting, the date for which will be determined after obtaining the approval of the competent authorities.

According to data compiled by Argaam, the insurer last paid dividends in 2018 at 10% of capital or SAR 1 per share.