Al Sagr recommends no dividend payout for 2024

03/04/2025 Argaam
Logo ofAl Sagr Cooperative Insurance Co.

Logo of Al Sagr Cooperative Insurance Co.

Al Sagr Cooperative Insurance Co.’s board of directors recommended withholding cash dividends for shareholders for the fiscal year ended Dec. 31, 2024.

 

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In a statement to Tadawul, the company said the recommendation aims to support the continued growth of business activities and maintain the solvency margin.

 

The recommendation will be presented for approval at the upcoming general assembly, the date for which will be announced later.

 

According to data available with Argaam, Al Sagr’s net profit declined by 25% to SAR 31.9 million by the end of 2024, compared to SAR 42.3 million in 2023. The company recorded a net profit of SAR 10.8 million in Q4 2024.

 

The last cash dividend distribution by the company was 7.5% for the year 2017.

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