Dubai – Mubasher: The ordinary general meeting (OGM) of Alliance Insurance has approved cash dividend distribution, equivalent to 30% of the company's paid-up capital.

The cash dividend payout stands at 30 fils per share, aggregating at a total amount of AED 30 million, according to the company's disclosure to the Dubai Financial Market (DFM) on Tuesday.

It is noteworthy to mention that in 2020, the company's net profits plunged by 25% to AED 10.3 million from around 13.5 million in 2019.