Abu Dhabi – Mubasher: Sharjah Insurance Co said its board recommended 7% cash dividends or 7 fils per share for fiscal year 2016, totalling AED 9.63 million.

The shareholders' meeting will be held on 27 March to decide on annual dividends, according to a bourse statement.

The board accepted the resignation of Obaid Ghanim Al Mutaiwei from the board and Ahmed Salim Al Hosni was appointed instead.

Al Hosni was also chosen as a managing director, subject to the shareholders’ approval in their upcoming meeting.