Dubai-Mubasher: Arab Insurance Group (ARIG) said the board proposed cash dividend for 2014 at 5% of capital, or 5 cents per share.

This proposal is subject to the approval of the next general meeting and Central Bank of Bahrain.

FY14 net profit reached $11.4 million, falling 23% compared with $14.87 million a year earlier.

The company operates with $220 million capital, divided into 220 million shares at $1 par value each.