Riyadh – Mubasher: Buruj Cooperative Insurance Co’s board recommended a cash dividend of 5% or SAR 0.50 per share for 2016.

The company would pay a total of SAR 12.5 million, according to a bourse filing on Thursday.

The eligibility will be for the shareholders of record till the close of trading on the general assembly, which will be announced later.

The company’s capital amounts to SAR 250 million, distributed on 25 million shares at SAR 10 per share.

Net profit for the twelve months of 2016 surged 174% to SAR 90.97 million, from SAR 33.19 million in 2015.