Bupa Arabia For Cooperative Insurance Co.’s general assembly approved a 20 percent cash dividend for the fiscal year 2017, at SAR 2 per share, amounting to SAR 160 million.
Shareholders also approved the purchase of up to 153,000 stocks of the company’s shares for an amount not more than SAR 11.5 million to allocate for the employees stock program. The amount will be financed from internal resources. They also delegated the board of directors to complete the purchase within 12 months from this approval and determine the terms and conditions for the program.
The insurer’s board was also delegated to issue semiannual or quarterly dividend for FY 2018 in accordance with the company’s financial position, cash flows and expansion plans.
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Dividend Details (FY 2017) |
|
|
Current Capital |
SAR 800 mln |
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Number of shares |
80 mln |
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Dividend |
SAR 160 mln |
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Percentage of capital |
20% (SAR 2 per share) |
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Record date |
May 31, 2018 |
|
Payment date |
To be determined |
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