Riyadh – Mubasher: Ace Arabia Cooperative Insurance said its board of directors, in a meeting held Tuesday, proposed withholding dividends for the fiscal year 2015.
The dividend freeze is aimed at boosting future growth for the company’s operations and bolster the solvency margin.
The Tadawul-listed insurer earlier logged SAR 13.9 million net profit, down 11.27% year-on-year from SAR 15.7 million.
