Abu Dhabi-Mubasher: Ras Al Khaimah National Insurance’s (RAK Insurance) ordinary general meeting ratified a board proposal to distribute cash dividends of 5% of capital for the fiscal year 2015, according to a recent statement.

The 5 fils per share dividends amount to AED 5.5 million ($1.5 million).

The dividends will be payable on 24 April to shareholders of record on 20 April, according to the statement.

During FY15, the UAE firm achieved a growth of 42.4% in profits to AED 97.56 million ($26.56 million) as compared to AED 68.53 million ($18.66 million) in FY14.