ADNIC shareholders approve cash dividends of 45% at the Annual General Meeting - Middle East Business News and Information
All agenda items were approved by shareholders, including distribution of a cash dividend of AED 0.45 per share.
Abu Dhabi,February 2025: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has approved the distribution of 45% cash dividends (AED 0.45 per share, implying total cash dividends of AED 256.5 million) for the financial year ended 31 December 2024, after concluding its Annual General Meeting (AGM) today.
Shareholders discussed and approved all items on the agenda for the AGM, including ADNIC's financial statements for the year ended 31 December 2024.
Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: 'ADNIC presented yet another set of exceptional results in 2024, driven by a solid underwriting and investment performance, and our regional expansion, following the recent acquisition of Allianz Saudi Fransi, which is now rebranded to Mutakamela Insurance Company. We would like to thank our shareholders for their continued trust in our journey. The distribution of cash dividends underscores our commitment to providing consistent returns on their investments.'
'2024 stands as a milestone year for ADNIC, where we delivered the highest ever reported total Insurance Revenue as well as overall Net Profit. In line with the UAE leadership declaring 2025 as the Year of Community, ADNIC reiterates its commitment to providing quality insurance solutions which will contribute positively towards our society's unity, shared responsibility and overall wellbeing.'
Charalampos Mylonas, CEO of ADNIC, said: 'ADNIC is committed to providing innovative and accessible solutions, and to driving operational growth. This is demonstrated by our solid net profit performance for the year and is further evidenced by our distribution of cash dividends. We are proud to not only provide exceptional value for our customers, but also consistent returns for our shareholders.
'Looking forward, we are focused on further enhancing our product and solutions suite, embracing technology, and reinforcing our position locally and beyond.'
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