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Shares of Chubb Arabia Cooperative Insurance Co. and Saudi Re for Cooperative Reinsurance Co. go ex-dividend today, July 14, if shareholders approve capital increase.

 

Chubb Arabia shareholders will vote on capital hike from SAR 200 million to SAR 300 million through the issue of one bonus share for every two shares held, during the extraordinary general meeting (EGM) scheduled for today.

 

The capital hike aims to support the company’s financial position, which will contribute to recording stronger growth rates over the coming years.

 

Meanwhile, Saudi Re shareholders will discuss the board's recommendation on increasing capital from SAR 810 million to SAR 891 million, during the EGM to be held today.

 

The capital hike will be carried out through 1-for-10 bonus share distribution, to boost the capital base and future activities.

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