Bupa Arabia’s shareholders to vote on FY17 dividend on May 31

Bupa Arabia For Cooperative Insurance Co.’s shareholders are set to vote on a proposed cash dividend of 20 percent for fiscal year 2017, at SAR 2 per share, on May 31, the company said in a bourse statement.

Shareholders will also vote on delegating the board of directors to distribute cash dividend for the fiscal year 2018 on a semi-annual or quarterly basis, in accordance with the company’s financial position, cash flows and strategic plans.

Meanwhile, they will also discuss the purchase of 153,000 company’s shares for up to SAR 11.5 million to allocate for employees’ program.

The purchase will be financed from the company’s resources. The board of directors will be delegated to complete the transaction on one or more stages within a 12-month period from the general assembly’s approval, the insurer added.