Riyadh – Mubasher: The Company for Cooperative Insurance’s (Tawuniya) shareholders approved the board’s recommendation to distribute cash dividends worth SAR 100 million, accounting for 8% of the capital, for 2020.

Tawuniya will pay SAR 0.8 per share to the entitled shareholders as of 9 May, according to a bourse filing on Sunday.

The company achieved net profits before Zakat at SAR 514.459 million in 2020, higher by 27.92% compared to SAR 402.165 million in 2019.

Tawuniya’s board earlier proposed dividends for last year, with the number of shares eligible for the distribution totalling 125 million.