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RAK Insurance's shareholders agree on 5% bonus share for 2019

RAK Insurance's shareholders agree on 5% bonus share for 2019
The distribution of bonus shares amounts to 5.775 million shares
RAK Insurance
RAKNIC
14.74% 2.88 0.37

Abu Dhabi – Mubasher: The shareholders of Ras Al Khaimah National Insurance Company (RAK Insurance) have nodded to a bonus issue of 5% of the paid-up capital for 2019.

The distribution amounts to 5.775 million bonus shares, raising the total number of shares to 121.275 million, according to the company's disclosure to Abu Dhabi Securities Exchange (ADX) on Wednesday.

During the ordinary general meeting (OGM), the shareholders have set 8 April as the last entitlement date.

It is noteworthy to highlight that in 2019, the company's net profits reached AED 3.534 million, down from AED 19.435 million in 2018.