Riyadh – Mubasher: The shareholders of Aljazira Takaful Taawuni Company approved a cash dividend distribution of SAR 26.40 million for the 2025 fiscal year, according to a bourse filing.
The general assembly meeting resulted in the ratification of financial statements, auditor appointments, and several significant related party contracts with Bank Aljazira and Aljazira Capital.
Shareholders reviewed and discussed the board’s report and the financial statements for the fiscal year ended on 31 December 2025.
Following these discussions, the assembly approved the discharge of board members from liability for the same period and ratified the independent auditor’s report.
A primary highlight of the meeting was the approval of the board’s recommendation to distribute cash dividends that equates to SAR 0.40 per share, representing 4% of the company’s nominal share value.
Eligibility for these dividends is set for shareholders owning stock at the close of trading on the day of the assembly, with records finalized at the Securities Depository Center (Edaa) by the end of the second trading day following the meeting.
The company confirmed that dividend payments are scheduled to commence on 30 June 2026.
In terms of governance and oversight, the assembly approved the appointment of Mohamed Al Amri & Co. (BDO) and Ibrahim Ahmed Al Bassam & Co. (PKF) as the company’s auditors.
These firms will be responsible for reviewing and auditing the financial statements for the second (Q2), third, and annual periods of 2026, as well as Q1-27.
The fees for these services were set at SAR 700,000 for BDO and SAR 800,000 for PKF. Furthermore, shareholders approved a total remuneration of SAR 2.77 million for the Board of Directors for the 2025 fiscal year.
The assembly also addressed several related party transactions involving Bank Aljazira and Aljazira Capital, in which five board members—Naif Al Abdulkareem, Mohammed Al-Mousa, Sami Al Muhaid, Ibrahim Al Sultan, and Naif Al Musnad—held indirect interests.
These transactions included insurance revenues totaling SAR 86.50 million, Murabaha deposit placements valued at SAR 160 million, and deposit disbursements amounting to SAR 115 million.
Additionally, a contract with Aljazira Capital regarding unit-linked investment returns, valued at SAR 14.40 million, was ratified. The company noted that all these transactions were conducted on standard commercial terms without preferential conditions.
Finally, the shareholders granted the Board of Directors the authority to exercise the powers of the Ordinary General Assembly as per the Companies Law for a period of one year. This delegation allows the board to continue managing the company’s licensing requirements and operational mandates in accordance with the executive regulations for listed joint-stock companies.
This move ensures administrative continuity and flexibility as the company moves into the 2026 fiscal cycle.
