UAE - Watania's OGM agrees on 6% dividends for 2019
Friday, 04 24 2020, Category: Islamic Insurance, Country: U.A.E
The shareholders of National Takaful Company (Watania) approved to distribute 6% cash dividends for 2019, marking its second year in a row.
In 2018, Watania paid out cash dividends equivalent to 5% of the company's capital, according to a press release on Tuesday.
Commenting on the economic impact of the coronavirus (COVID-19), the Chairman of the board, Ali Saeed bin Harmal Al Dhaheri, said: "We are confident that once companies return to normal work, the sector will recover and we will be in a good position to seize opportunities and continue to grow in a way that fulfils the aspirations of shareholders."
Noteworthy to mention, the company achieved net profits of AED 13.13 million in 2019, up by 10.54% from AED 9.47 million in 2018.