Abu Dhabi – Mubasher: Shareholders at Oman Insurance Company's (OIC) ordinary general meeting (OGM) on Tuesday approved the distribution of 10 fils per share as cash dividends for 2016.

The distributions represent 10% of the company's capital and total AED 46.19 million, OIC said in a statement to the Dubai Financial Market (DFM).

OIC last reported a 2.9% decline in its net profits for 2016 to AED 78.9 million, compared to AED 81.81 million in 2015.

The company's OGM had previously approved similar dividends for 2015.