Solidarity Bahrain approves 18% cash dividend to the shareholders

Solidarity Bahrain approves 18% cash dividend to the shareholders

MANAMA, BAHRAIN – 30th March 2022 – Solidarity Bahrain B.S.C., one of the largest insurance companies in the Kingdom of Bahrain, a subsidiary of Solidarity Group Holding, held yesterday its Annual General Assembly Meeting (“AGM”) for the financial year ended 31st December 2021. The meeting was chaired by Mr. Ashraf Bseisu, Vice Chairman of the Board of Directors and attended by the shareholders, representatives from the Ministry of Industry, Commerce & Tourism, Central Bank of Bahrain, Bahrain Bourse and external auditors.

 

The meeting agenda commenced with reviewing and approving the minutes of the previous Ordinary General Assembly meeting, the financial ended in December 31, 2021. Cash dividend at 18%, were approved by the shareholders which is equivalent to 18 fils per share for each ordinary share. It is worth noting that the above-mentioned cash distribution has been approved by the Central Bank of Bahrain.

 

On this occasion, Mr. Ashraf Bseisu, Vice Chairman of the Company’s Board of Directors, stated: “Solidarity Bahrain showcased a clear example of solid performance, through its financial results, despite the unprecedented economic challenges during the year, Solidarity Bahrain posted a positive financial performance in 2021, and managed to achieve modest growth over the previous year.” He added: “We strongly believe that the Company will continue to thrive and accomplish remarkable achievements in the Bahraini insurance sector”.

In a statement, Mr. Jawad Mohamed, Chief Executive Officer, Solidarity Bahrain commented: “Solidarity Bahrain has concluded the year with major achievements, thanks to #TeamSolidarity, for their constant commitment and devotion during the most critical times of the year. We take immense pride and pleasure in stating that our team has made the most out of 2021, by reinforcing our digital channels and uplift the experience of our customers and provide them with additional means of connecting with Solidarity”.