​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 40,000 (Forty Thousand Saudi Riyals) on Al Sagr Cooperative Insurance Co due to its violation of clause (A) of Article (46) of the Capital Market Law and sub-clause (2) of clause (B) of Article (46) of the Listing Rules. The company failed to inform CMA and the public in a timely manner about its Board of directors’ recommendation in its meeting held on 14/04/2014 to approve distributing cash dividends of (0.5) Riyals per share. It was later announced on 12/05/2014 where the company announced the invitation to its shareholders to attend the ordinary general assembly meeting on 12/05/2014 which included the approval of the Board of directors’ recommendation to distribute cash dividends.