Al Alamiya shareholders to vote on withholding FY2019 dividend on June 8

Al Alamiya for Cooperative Insurance Co.’s shareholders are set to vote on a board recommendation to withhold cash dividend for the fiscal year 2019, during the ordinary general assembly meeting that will be held on June 8, 2020, the insurer said in a bourse statement.

Shareholders will also vote on all other items on the meeting’s agenda including related party transactions.

In March, Al Alamiya’s board of directors recommended withholding dividend for FY2019 in order to strengthen the company’s financial position, according to data compiled by Argaam.