Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Umm Al Qaiwain General Investment Company approved the proposed cash dividend distribution of AED 18.150 million or five fils per share for 2019, representing 5% of the paid-up capital.

The general assembly also approved the board’s report on the company’s activity and financial position for 2019, according to a stock exchange filing on Sunday.

Moreover, shareholders discharged the board from liability for the 2019 fiscal year and approved AED 1.4 million in remuneration to board members.

In 2019, the company’s profits soared to AED 22.5 million from AED 15.7 million a year earlier.

Umm Al Qaiwain General Investment is listed on the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait.