Chubb Arabia set to approve FY17 dividend freeze on June 26

05/06/2018 Argaam

Chubb Arabia Cooperative Insurance Co. shareholders will, on June 26, 2018, approve the board’s proposal for withholding dividend for FY17, the insurer said in a bourse filing.

 

During the meeting, shareholders will approve the board of directors’ report, an audit report and all financial statements for 2017.

 

Shareholders will also discharge board members from liability associated with their activities in 2017, and select an external auditor for 2018 and Q1 2019.

 

Board bonuses at SAR 1.7 million for 2017 will be also endorsed during the meeting.

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