Arabian Shield board proposes dividend freeze for 2024

24/03/2025 Argaam
Logo ofArabian Shield Cooperative Insurance Co.

Logo of Arabian Shield Cooperative Insurance Co.

Arabian Shield Cooperative Insurance Co.’s board of directors, in its meeting held on March 23, recommended withholding dividends for the year ended Dec. 31, 2024, according to a statement to Tadawul.

 

The board proposal aimed at strengthening the company's financial position and preserving solvency margin to finance the future development plans.

 

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The recommendation will be subject to the approval at the upcoming general meeting to be decided at a later date, the statement added.

 

The insurer reported a net profit of SAR 71 million, an increase of 6%, for 2024, compared to SAR 66.9 million a year earlier, data compiled with Argaam showed.

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