Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company’s board recommended not paying out cash dividends for 2020, according to a disclosure to Tadawul on Monday.

The decision aims to boost the company’s financial position.

Arabian Shield’s shareholders are yet to approve this resolution during the coming general meeting, which will later be scheduled.

The company has recently signed an agreement with AlAhli Takaful Company for a potential merger between the two entities.