Abu Dhabi - Mubasher: The general assembly of Abu Dhabi National Takaful Company approved on Monday the distribution of cash dividends to shareholders for fiscal year 2016, with a total value of AED 16 million.

Dividends will be distributed at 16 fils per share, which represents 16% of capital, the company said in a statement to the Abu Dhabi Securities Exchange (ADX).

The company’s capital totals AED 100 million distributed over 100 million shares, at a par value of AED 1 per share.

Last year, the company’s board of directors approved dividends at the same value for FY15.

In 2016, profits grew 17.8% to AED 49 million from AED 41.6 million in the previous year.