Chubb Arabia to vote on FY19 cash dividend at 5% on April 20

Chubb Arabia Cooperative Insurance Co.'s (Chubb Arabia) shareholders will vote on a 5% cash dividend, at SAR 0.5 per share, for the fiscal year ended Dec. 31, 2019 on April 20.

The company will adopt electronic voting for its ordinary general meeting, according to a bourse filing on Monday.

The move came after the Capital Market Authority (CMA) issued, on March 16, a circular to enable shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent the spread of coronavirus.

Shareholders will vote on a 5% cash dividend, at SAR 0.5 per share, for the fiscal year ended Dec. 31, 2019.

They will also vote on audited financial statements, audit and board’s reports for 2019.

Moreover, Chubb’s shareholders will vote on appointing an external auditor to audit the company’s financials for FY 2020 and Q1 2021, the statement said.

On March 25, the company’s board of directors recommended a 5% cash dividend for the fiscal year 2019, at SAR 0.5 per share, amounting to SAR 10 million, Argaam reported.