Al Sagr shareholders to vote on 7.5% dividend June 28

Al Sagr Cooperative Insurance Co.'s shareholders will vote on the board of directors’ recommendation to distribute a 7.5 percent cash dividend (SAR 0.75 per share) in the upcoming general assembly meeting on June 28.

The proposed dividend will total SAR 18.7 million, the company said in a bourse statement on Thursday.

Registered shareholders at the Securities Depository Center Co. (Edaa) by the end of the second trading day following the meeting are eligible to receive the dividend.

They will also discuss write-off of SAR 1.05 million in bad debts.

The company’s financial statements, as well as board and auditor’s reports for the fiscal year 2017 will be also discussed.

Additionally, shareholders will vote on approving the board remuneration amounting to SAR 2.16 million, appoint external auditors, and discharge board members from liabilities for the previous fiscal year, the statement added.