Media ININ Economy We Trust
Abu Dhabi, on March 21, the general assembly of Al Ain Al Ahlia Insurance Company approved the distribution of cash dividends to shareholders at 25% of the paid-up capital, equivalent to 2.5 dirhams per share, with a total of 37.5 million dirhams to shareholders, for the fiscal year ending on December 31, 2022.
The date of the last day to buy shares to obtain dividends will be on March 29, while March 30 will be the date of exclusion from profits, and on March 31 the register will be closed, provided that the payment date is within 30 days from the date of the General Assembly convening through the Abu Dhabi Securities Exchange.
Mohammed Joaan Rashid Al Badi Al Dhaheri, Chairman of the Board of Directors of Al Ain Ahlia Insurance, said during the company’s general assembly meeting today that the total revenues of insurance premiums for the company amounted to about 923.4 million dirhams during the past year, while the net profits of the insurance business amounted to 100.9 million dirhams, and the provision for unpaid premiums amounted to 100.9 million dirhams. The acquired company amounted to 78.8 million dirhams, while the net profit achieved by the company amounted to 63.1 million dirhams.
Al Dhaheri added that the UAE economy witnessed strong economic growth through a strong recovery in the non-oil sector in addition to the high rates of oil production, indicating that the economic recovery is gaining great momentum driven by the return of the economic cycle.
The General Assembly also approved the Board of Directors’ report on the company’s activities and financial position for the past year. The company’s budget, profit and loss account, and auditor’s report for the same year were also approved.
And the association approved, by a special decision, to amend some articles of the basic system in accordance with the provisions of Federal Decree-Law No. 32 of 2021 regarding commercial companies, provided that the approval of the competent authorities is obtained.
