Dubai – Mubasher: The ordinary general meeting (OGM) of Islamic Arab Insurance Company (Salama) has approved to distribute cash dividends for 2019 at 3 fils per share, amounting to a total AED 35.65 million.

During the meeting, shareholders have set 11 May and 12 May as the last entitlement and ex-dividend dates, respectively, according to the company's disclosure to the Dubai Financial Market (DFM) on Monday.

Meanwhile, shareholders approved raising the limit of foreign ownership in the company's share capital from 25% to 49%.

In 2019, the company's net profits attributable to shareholders hiked to AED 54.748 million from AED 2.039 million in 2018.