Abu Dhabi - Mubasher: Alliance Insurance’s board of directors on Wednesday recommended distributing annual dividends of 25% of capital or 25 fils per share.

The total value of the company’s cash dividends is AED 25 million for FY15, according to Mubasher calculations.

The company’s board of directors approved the annual accounts and decided to hold an ordinary general meeting on 29 March, according to bourse filing.

Alliance’s net profit for 2015 fell by 8.6% year-on-year from AED 48.13 million in 2014 to AED 44 million.

The insurance company’s earnings in the fourth quarter of 2015 fell to AED 11 million ($1 million).