Riyadh – Mubasher: Al Jazira Takaful Taawuni Co. will hold its ordinary general meeting (OGM) on 29 May to vote on a number of items including the board’s recommendation for a cash dividend for FY15.
The board recommended a cash dividend to shareholders amounting to SAR 0.5 per share, representing 5% of capital and totalling SAR 17.5 million, the company said in a filing to the Saudi Stock Exchange (Tadawul).
This is the first time Al Jazira Takaful announces a cash dividend since its establishment in 2013.
The insurance firm turned profitable in Q4-15 with SAR 5.3 million against a net loss of SAR 2.04 million in the same period in 2014, bringing annual profits to SAR 17.66 million in 2015, compared to SAR 9.78 million in 2014, a rise of 80.64% year-on-year.
