Bupa Arabia approves 15% dividend for 2016, contracts

Bupa Arabia for Cooperative Insurance (Bupa Arabia) extraordinary general assembly on May 8 has approved a 15 percent cash dividend of SAR 120 million at SAR 1.5 per share for fiscal year 2016, the insurer said in a statement to Tadawul on Tuesday.

The shareholders approved appointing Ernst & Young and KPMG Al Fozan and Partners as external auditors for fiscal year 2017.

Remuneration of SAR 2.9 million for the board of directors for fiscal year 2016 was also approved.

The extraordinary general assembly also approved next year’s contracts with Bupa International. Last year’s deals were worth SAR 18.8 million.

It also approved contracts with Bupa Investments Overseas Ltd for 2017. Last year’s contracts were worth over SAR 38 million.

Deals with BUPA Middle East Holding were approved as well for next year, as last year’s contracts were valued at SAR 19.3 million.