Mubasher TV
Contact Us Advertising   العربية

Al Wathba Insurance OGM OKs AED 31m for 2014

Al Wathba Insurance OGM OKs AED 31m for 2014
Archived photo of Al Wathba National Insurance Company
AWNIC
AWNIC
13.04% 5.20 0.60

 

By: Ramy Sameeh

Abu Dhabi – Mubasher: Shareholders at Abu Dhabi-listed Al Wathba National Insurance Company (AWNIC) have approved a 15% cash dividend, amounting to 15 fils per share and totalling AED 31 million, for 2014.

Dividends were approved during the ordinary general meeting (OGM) held on Monday.

AWNIC approved in 2013 a 12% cash dividend, totalling AED 21.6 million, in addition to bonus shares through the issuance of 27 million shares, raising its capital to 207 million shares.

AWNIC’s profits retreated 28% in 2014 to AED 109.05 million compared to AED 152.4 million in 2013.

The insurance firm, which received a BBB+ rating with the outlook ‘stable’ from Standard & Poor’s (S&P), offer insurance and reinsurance services in all sectors.

AWNIC maintains investments in Oman’s Vision Insurance, Iraq’s OR International Insurance and the UAE’s Vision Capital Brokerage and Foodco.

Translated by: Nada Adel Sobhi