ADNIC Shareholders Approved Cash Dividends of 30 percent at the Annual General Meeting
ADNIC Shareholders Approved Cash Dividends of 30% at the Annual General Meeting
17 Mar 2020
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, concluded its Annual General Meeting (AGM) today. All items of the agenda were discussed and approved including the distribution of 30% cash dividends, AED 0.30 per share, implying total cash dividends of AED 144.6 million for the financial year ended 31 December 2019.
Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “In line with our commitment to maximise shareholder value and deliver top returns, we are very pleased to announce the distribution of 30% cash dividends, totalling AED 144.6 million. 2019 was a solid year for ADNIC, with
the company’s net profit up 20.7% year-on-year to reach AED 284.3 million reflecting the company’s fundamental strength.”
Ahmad Idris, CEO of ADNIC said: “2019 marked another successful year for ADNIC, characterised by strong growth across key lines of business. This performance
is testament to the company’s unwavering commitment towards prudent underwriting of risks and sound investment portfolio management. The strength of our customer service proposition, technical excellence, product and service innovation and commitment to the community have yielded very good results year after year. We are confident that in 2020 we will continue to achieve our long-term strategic priorities and continue to support our customers’ evolving needs.”
Additionally, ADNIC continues to be one of the most awarded insurance companies in the region. The company was recognised for numerous achievements by the industry during 2019, and Mohammed Bin Rashid Al Maktoum Business Award. Also, the “UAE Insurer Award” by MENA IR Awards, and the “Corporate Social Responsibility Award” by Insuretek Middle East 2020.