Buruj to pay FY16 dividend on June 6

Buruj Cooperative Insurance Co. said it will start paying cash dividend for the fiscal year 2016 on June 6.

In a statement to Tadawul on Tuesday, the insurer said it will deposit the cash dividend into investors’ accounts through the Saudi British Bank (SABB).

Shareholders eligible to receive dividends will be those who owned shares on the date of the bank’s extraordinary general assembly on May 22, and those who are registered at the Securities Depository Center (Edaa) on May 24.

The company’s extraordinary general assembly approved a 5 percent cash dividend (SAR 0.5 per share) for the fiscal year 2016, Argaam reported.