Tuesday 03 October 2023 - 2:38:36 pm

ADNIC shareholders approve cash dividends totalling AED228 million

ABU DHABI, 16th March, 2022 (WAM) -- Abu Dhabi National Insurance Company (ADNIC) has approved the distribution of 40 percent cash dividends (AED0.40 per share, implying total cash dividends of AED228 million) for the financial year ended 31st December 2021, after concluding it's Annual General Meeting (AGM) today.

All items on the agenda for the AGM were discussed and approved. Shareholders also approved ADNIC's financial statements for the year ended 31st December 2021.

ADNIC's Chairman welcomed Futoon Hamdan Mohammed Al Mazroui as a board member and congratulated her on being the first woman to join the company's Board of Directors.

Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said, "We are pleased to announce the distribution of 40 percent cash dividends, a total of AED228 million, which demonstrates ADNIC's robust financial performance and an adapted model that enables sustainable profit growth as we enter the company's next 50 years. With the full year 2021 net profit of AED401.8 million, ADNIC has continued to adapt and adjust to the new environment to remain competitive amid new investments in technology."

He added, "As economies continue to recover from the pandemic, we will ensure to continually strengthen the company's infrastructure and create value for our stakeholders."

Ahmad Idris, CEO of ADNIC, said, "2022 marks a special year for ADNIC, being the company's 50th anniversary, where we will continue to be engaged in initiatives that contribute to the betterment of society and support the UAE's various strategic projects as both the company and the country begin their journey towards the next 50 years."

WAM/Esraa Ismail/Rola Alghoul