The General Assembly of Abu Dhabi National Insurance Company approved the distribution of cash dividends amounting to 144.6 million dirhams, or 30%, equivalent to 0.30 dirhams per share for the financial year ended December 31. 2019.
According to the Emirates News Agency, the shareholders agreed during the meeting to the report of the board of directors, financial statements, and amendment of Article / 7 / of the company's articles of association to allow foreigners to own a percentage not exceeding 25% of the company's capital ... and to allow the company to purchase no more than 10% of its shares .
Sheikh Mohammed bin Saif Al Nahyan, Chairman of the Abu Dhabi National Insurance Company, said: As part of our continuous commitment to enhance the value provided to shareholders and achieve the highest revenue, I am pleased to announce the distribution of 30% cash dividends, with a total cash dividend of 144.6 million dirhams .. It was 2019 year Strong for the company’s business, as its net profit increased by 20.7% annually to reach 284.3 million dirhams, which reflects the strengths and advantages of its employees.
He added: With our focus now on 2020, we look forward to continuing building and enhancing capabilities for the future ... indicating that Abu Dhabi National Insurance Company will continue to invest in new digital technologies that will in turn contribute to strategic and financial gains in the coming years.
For his part, Ahmed Idris, CEO of Abu Dhabi National Insurance Company said: 2019 was a year full of achievements and successes for the company through achieving strong growth in various key business areas, which confirms our firm commitment to conservative policy of underwriting and sound management of investment portfolios.
