Arabian Shield shareholders greenlight dividend freeze for 2022

Logo of Arabian Shield Cooperative Insurance Co.

Arabian Shield Cooperative Insurance Co.'s shareholders approved the board's recommendation on withholding dividends for 2022, during the ordinary general meeting held on June 14, according to a Tadawul statement.

Shareholders also approved the business contracts concluded with related parties. In April, the board proposed withholding dividend payout for 2022, to support and strengthen the company's financial position and preserve the solvency margin to finance its future development plans, as reported earlier by Argaam.