Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Sagr Cooperative Insurance approved the distribution of cash dividends for fiscal year 2016.

The company will pay out dividends at SAR 2 per share or 20% of capital, totalling SAR 50 million, according to a bourse filing on Wednesday.

The distribution will be through the National Commercial Bank (NCB) for eligible registered shareholders at the end of trades on the meeting’s day and who are registered in the Depository Center Company at the end of the trading day following the EGM.

The meeting also agreed on the board's and auditors’ reports for 2016.

The Saudi-listed company recorded profits of SAR 166.8 million in the twelve months of 2016 compared to SAR 102.58 million in the year-ago period, with a 62.6% rise.