The Company for Cooperative Insurance (Tawuniya has announced its board's recommendation to pay cash dividends totalling SAR225m ($60m) for 2024.
Tawuniya, among Saudi Arabia’s top three insurers in terms of premiums, proposes to pay a dividend of SAR1.50 per share for 150m eligible shares (with a nominal value of SAR10 each), according to a statement lodged with the stock exchange.
The proposed dividend amount for 2024 is subject to the approval of shareholders.
The total dividend amount for 2024 will be the biggest after 2016’s dividends of SAR500m.
Tawuniya’s dividend record for FY2015 to FY2024
|
Financial year
|
Dividends
(SAR m)
|
Dividend per share (SAR)
|
Percentage of nominal share capital
|
Nominal share capital at 31 Dec (SAR m)
|
|
2024
|
225
|
1.50
|
15%
|
1,500
|
|
2023
|
150
|
1.00
|
10%
|
1,500
|
|
2022
|
125
|
1.00
|
10%
|
1,250
|
|
2021
|
0
|
0
|
0
|
1,250
|
|
2020
|
100
|
0.80
|
8%
|
1,250
|
|
2019
|
0
|
0
|
0
|
1,250
|
|
2018
|
0
|
0
|
0
|
1,250
|
|
2017
|
0
|
0
|
0
|
1,250
|
|
2016
|
500
|
5.00
|
50%
|
1,000
|
|
2015
|
100
|
1.00
|
10%
|
1,000
|
For 2024, Tawuniya reported net profits after zakat attributable to shareholders of SAR1.02bn, a surge of 66% from 2023. For 2016, net profits after zakat attributable to shareholders stood at SAR733m, 22% higher than in 2015.