Dubai – Mubasher: Amanat Holdings on Monday announced that it has concluded its annual general meeting (AGM) on Sunday, 22 April 2018.

During the AGM, the company’s board report for activities and financial position, balance sheet, and the profit and loss account for the year ended 31 December 2017 were approved, UAE-based Amanat said in a recent statement.

The AGM also approved an increase in the payout for the full-year 2017, following the board’s proposal to distribute cash dividends of 1.5% of the nominal value for each share, or 1.5 fils per share, the Dubai Financial Market (DFM) listed company highlighted.

Based on shareholders' request, the AGM also approved an increase of AED 11.4 million in dividends, which will be paid from retained earnings of AED 5.7 million and from the share issuance reserve of AED 5.7 million, in line with obtaining the Securities and Commodities Authority’s (SCA) approval.

Accordingly, total payout will increase to AED 48.9 million, equivalent to 1.956% of the nominal value of each share, or 1.956 fils per a share, the GCC’s largest healthcare and education investment company noted.

“With 43% of capital already deployed, we are optimistic about our ability to continuing enhancing shareholder value as we build on our solid foundation of actively investing in healthcare and education companies,” chairman of Amanat Hamad Abdulla Al Shamsi commented.

Amanat had previously posted a net profit of AED 42.3 million for the year ended December 2017, compared to AED 38.4 million in profits a year earlier.