Bupa Arabia For Cooperative Insurance Co.’s shareholders are set to vote on a proposed cash dividend of 20 percent for fiscal year 2017, at SAR 2 per share, on May 31, the company said in a bourse statement.

 

Shareholders will also vote on delegating the board of directors to distribute cash dividend for the fiscal year 2018 on a semi-annual or quarterly basis, in accordance with the company’s financial position, cash flows and strategic plans.

 

Meanwhile, they will also discuss the purchase of 153,000 company’s shares for up to SAR 11.5 million to allocate for employees’ program.

 

The purchase will be financed from the company’s resources. The board of directors will be delegated to complete the transaction on one or more stages within a 12-month period from the general assembly’s approval, the insurer added.

 

Cash Dividend Details (FY 2017)

Current Capital

SAR 800 mln

Number of shares

80 mln

Cash dividend

SAR 160 mln

Percent capital

20% (SAR 2 per share)

Record date

May 31, 2018

Payment date

To be determined

 

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