Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Jazira Takaful Taawuni Co approved the distribution of cash dividends to shareholders for 2016.

The company will pay dividends at SAR 0.50 per share, totalling SAR 17.5 million and representing 5% of the nominal value, according to a bourse filing on Thursday.

Shareholders of record at the end of trades on the EGM day would be entitled to the dividends distribution, for which payout will start on 5 June.

The meeting also agreed on the board's and auditors’ reports for 2016, in addition to mandating the board to distribute interim dividends.

The Saudi-listed firm's profits increased 46.76% year-on-year to SAR 25.99 million in 2016.