Riyadh-Mubasher: Ace Arabia Cooperative Insurance will hold its ordinary general meeting on 14 April, to discuss the board’s recommendation on withholding dividends for 2015.
Shareholders will also review financial statements and the board’s report for 2015.
FY15 net earnings fell 11.27% to SAR 13.9 million, compared with SAR 15.7 million in 2014.
The dividend freeze aims to boost the company’s future growth and solvency margin, the company earlier said.
The board had proposed withholding dividends in the last two years.
