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Bupa OKs SAR 1.5/shr dividends for FY16

Bupa OKs SAR 1.5/shr dividends for FY16
(Photo Credit: Company website)
BUPA ARABIA
8210
26.83% 263.80 55.80

Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance’s extraordinary general meeting (EGM) approved on 8 May the distribution of dividends, representing 15% of capital at SAR 1.5 per share for fiscal year 2016.

The distributions total SAR 120 million, Bupa said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

Shareholders registered in the company’s books by the end of trading on the second trading day after the dividends’ maturity date will be entitled to the distributions, which will be paid within 15 days from the date of approval.

The EGM approved buying a maximum of 150,000 shares at a value of SAR 11.06 million, which will be allocated to the company's employees’ programme, a long-term incentive plan that will be created within three months from the date of the EGM.

Shareholders also approved the board’s and auditors’ reports and financial statements for FY16.

Bupa last reported a slight decline of 2.22% in its profits to SAR 630.7 million in 2016, compared to SAR 645 million in 2015.

By 11:45 am KSA time on Tuesday, Bupa’s stock was seen at SAR 118.25.