Bupa Arabia shareholders to vote on 45% cash dividend for 2021, SAR 17.6 mln share buyback on June 30

Bupa Arabia for Cooperative Insurance Co.’s shareholders are set to vote on a 45% cash dividend for 2021, at SAR 4.5 per share, during the extraordinary general assembly meeting (EGM) slated for June 30, the company said in a bourse filing. 

Shareholders will also vote on shares’ buyback with a maximum value of SAR 17.55 million and up to 175,000 shares, to be allocated to the Long-Term Incentive Plan (LTIP).

The purchase will be financed through company’s fund for its entitled LTIP employees.

Furthermore, they will authorize the board of directors to complete the shares buyback within 12 months from the date of the EGM approval. The purchased shares will be kept no longer than 10 years from the date of approval until its allocated for the entitled employees.

The approval of the EGM for this program was obtained on May 8, 2017, the company noted.

Meanwhile, they will vote on the delegation of the authority to the board to approve interim dividend to the shareholders, on a semi-annual or quarterly basis, if required and approved by the company and relevant regulators.

Shareholders are also set to elect members of the board of directors for the upcoming three-year term, which will start on July 1, 2022.