Arabian Shield shareholders approve dividend freeze for 2023

24/06/2024 Argaam

Arabian Shield board recommends dividend freeze for 2023

Logo of Arabian Shield Cooperative Insurance Co. 

Arabian Shield Cooperative Insurance Co.’s shareholders approved the board’s recommendation to withhold cash dividends for 2023 during an ordinary general meeting (OGM) on June 23, according to a statement to Tadawul.

 

The shareholders also ratified all other agenda items, the statement added.

 

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The dividend freeze is aimed to support the company's financial position and maintain the solvency margin to finance future development plans, Argaam reported.

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