Arabian Shield recommends FY15 dividend freeze

06/04/2016 Argaam

Arabian Shield Cooperative Insurance Co.’s board of directors has recommended withholding a cash dividend for fiscal year 2015 (FY15), the company said in a statement to Tadawul.

 

The proposal is aimed at strengthening the insurer’s financial position. Shareholders will vote on the proposal at the next general assembly meeting, which will be announced later.

 

Arabian Shield generated SAR 32.8 million in net earnings for FY15, or SAR 1.64 per share, data compiled by Argaam showed.

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