Tawuniya shareholders OK SAR 2/shr dividend for 2025

The Company for Cooperative Insurance (Tawuniya) said its shareholders approved the board of directors’ recommendation to distribute a cash dividend at 20% of capital, or SAR 2 a share, for 2025.

This decision was made during an extraordinary general meeting (EGM) held on June 28, according to a statement to Tadawul.

Shareholders also approved the repurchase of up to 212,100 of its shares for allocation to employees under the employee stock incentive program (ESIP).

The repurchase will be financed through the company's available cash, while the board of directors was authorized to complete the buyback within a maximum of 18 months from the date of the EGM's approval.

The company added that it will hold the repurchased shares for a maximum of 10 years from the date of the EGM's approval until they are allocated to eligible employees.

Upon the expiry of this period, it will follow the procedures and regulations stipulated under the relevant laws and regulations.

Shareholders also approved the remaining agenda items, except for transactions and contracts between the company and the General Organization for Social Insurance (GOSI) related to non-insurance service fees.

The value of these transactions amounted to SAR 85.74 million as of the end of Q1 2025 and was conducted without preferential terms.

Shareholders granted the company a six-month grace period to take the necessary measures to rectify the existing situation and bring it into compliance with the relevant laws and regulations.