Walaa Insurance shareholders approve dividend freeze for 2020

24/06/2021 Argaam

Walaa Cooperative Insurance Co.

Shareholders of Walaa Cooperative Insurance Co. (Walaa Insurance) approved the board of directors’ recommendation to withhold dividend for 2020, during the ordinary general meeting (OGM) held on June 23.

 

The step aims at maintaining capital to support the company’s future growth plans, according to a bourse filing.

 

Meanwhile, shareholders approved all other items on the meeting’s agenda including related party transactions.

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