Riyadh - Mubasher: The ordinary general meeting (OGM) of Al Ahli Takaful on 7 May approved the board’s recommendation of distributing 5% of capital as cash dividends for fiscal year 2016.

The Saudi firm will pay SAR 0.50 per share as dividends to the entitled shareholders, with a total value of SAR 8.33 million, according to a bourse statement issued on Monday.

Al Ahli Takaful said that the dividends’ distribution will take place on 21 May through the National Commercial Bank.

During FY16, Al Ahli Takaful posted a decline of 3.1% in profits to SAR 33.3 million from SAR 34.4 million in FY15.