Bupa Arabia’s EGM OKs 40% dividend for 2024, share repurchase

Bupa Arabia for Cooperative Insurance Co.’s (Bupa Arabia) shareholders approved the board recommendation to pay a cash dividend at 40% of capital, or SAR 4 a share, for 2024, according to a statement to Tadawul.

Additionally, shareholders ratified the repurchase of 1.4 million shares, to retain as treasury shares and allocate to the long-term incentive plan (LTIP) for 2025 to 2029.

The repurchase will be financed through company’s funds for its entitled LTIP employees.

Shareholders authorized the board to complete the repurchase of the shares within 12 months from the date of approval. The repurchased shares will be kept no longer than 10 years from the date of approval until its allocated for the entitled employees.
 
This buyback plan builds on the current program, the conditions of which were approved by shareholders on May 8, 2017.
 
Meanwhile, shareholders elected board members for the new four-year term starting on July 1, 2025, including Loay Nazer, David Fletcher, Martin Houston, Nigel Sullivan, Tal Nazer, Osamah Shaker, Huda Ghoson, Osamah Banaja and George Nazi.

Meanwhile, shareholders authorized the board to distribute interim dividends on a semi-annual or quarterly basis for 2025.