Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Company for Cooperative Insurance (Tawuniya) will discuss the board's recommendation to distribute 50% cash dividends, totaling SAR 500 million.

The eligibility will be for the shareholders of record until the close of trading on the EGM, which will be held on 21 March.

The meeting will vote on the firm's amended bylaws, elect board members for the coming period, and form a revision committee, according to a bourse filing on Thursday.

Earlier, Tawuniya's board recommended a capital increase through 1:4 bonus shares.

During the twelve-month period, Tawuniya gained 24.7% to reach SAR 800.95 million this year, as compared with SAR 642.3 million in 2015.