The ordinary general meeting of Orient Insurance Co. endorsed on Thursday, February 27, the financial results for the fiscal year that ended on December 31, 2013.
Shareholders nodded the board’s proposal for paying cash dividend at 20% of capital, or AED 81 million. They approved capital increase to AED 500 million from AED 405 million through bonus share distribution at 23.45%, or AED 95 million.
The insurer’s FY13 profit had netted AED 240 million, with 9.3% growth year-over-year from AED 219.530 million.