BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THAT THE BOARD OF DIRECTORS HAS RECOMMENDED THE DISTRIBUTION OF CASH DIVIDENDS FOR THE 2020 FISCAL YEAR.
|Introduction||The Board of Directors of Bupa Arabia for Cooperative Insurance Company has recommended, on 25/04/2021, the distribution of dividends to the shareholders for the 2020 fiscal year.|
|Date of the board’s decision||2021-04-25 Corresponding to 1442-09-13|
|The Total amount distributed||408,000,000SAR|
|Number of Shares Eligible for Dividends||120,000,000 Shares|
|Dividend per share||3.40SAR|
|Percentage of Dividend to the Share Par Value (%)||34 %|
|Eligibility date||The eligibility of dividends shall be for the shareholders registered in the registers of the Securities Depository Center (Tadawul) on owning shares at the end of the day of the General Assembly meeting of the Company and who are registered in the shareholder's Register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the General Assembly (GA) Meeting which approves the dividends. The GA will be held during June 2021 and will be announced at a later date after obtaining the necessary approvals from the relevant authorities.|
|Distribution Date||The dividend distribution date will be confirmed after the approval of the General Assembly (which the company intends to call for during the month of June 2021 after obtaining the regulatory approvals).|
|Additional Information||The Company would also like to draw its shareholders' attention to the following regulation regarding the payment of dividends: For foreign non-resident investors the dividend paid by the Company is subject to a withholding tax of 5.0% upon transfer to the non-resident investor or credit to its account according to the provisions of Article 68 of the Saudi Arabia Income Tax Law and Article 63 of the Implementing Regulations of the Saudi Arabia Income Tax Law.|
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.