Saudi CMA objects to AXA Cooperative Insurance 2019 dividends

The decision has no material impact on the company’s financials until now.

  

Riyadh –  AXA Cooperative Insurance Company has received a letter of objection from the Saudi Capital Market Authority (CMA) regarding the company’s plan to distribute cash dividends to shareholders for fiscal year (FY) 2019.

The company’s board of directors recently recommended the distribution of 7% cash dividends at SAR 0.7 per share, amounting to a total SAR 35 million.

The decision has no material impact on the company’s financials until now.

Source: Mubasher

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