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UAE - Aman board proposes first dividend in 10 Years

Monday, 03 22 2021, Category: Islamic Insurance, Country: U.A.E
Dubai Islamic Insurance and Reinsurance Company PJSC (Aman), the pioneering UAE Takaful Insurance provider, has received board approval for 2020 audited financial results. At the same time, the board agreed to propose Aman’s first cash dividend distribution of 6 per cent of net profit attributable to shareholders since 2011 (when it made returns to shareholders via a bonus issue of shares).

The proposed dividend reflects the strong 2020 performance, which saw the initial benefits of the new three-year growth strategy coming through. Net profit attributable to shareholders was Dh19 million for the year ended 31 December 2020, up 117 per cent compared with 2019’s net profit of Dh8.7 million. Shareholders’ equity also increased by 14.6 per cent to Dh85.1 million (2019: Dh74.3 million) during the period.

Dr Saleh Al Hashemi, chairman of Aman’s Board of Directors, said: “With the proposed dividend, our first in 10 years, we are making a strong statement, both in terms of our FY 2020 performance and the positive growth prospects for Aman. We have an excellent foundation to grow our business and create sustainable value for our shareholders and policyholders.”

Source: Khaleej Times
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