Having posted 2021 net profit of AED401.8 million ($109.39 million), Abu Dhabi National Insurance Company (Adnic) has approved 40% cash dividends at AED0.40 per share, implying total cash dividends of AED228 million ($62 million).

 

At its Annual General Meeting (AGM) shareholders also approved Adnic’s financial statements for the year ended December 31, 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% 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 a 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.”

 

Sheikh Mohamed 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: “With another successful year for Adnic passing, we reflect on the company’s unwavering commitment towards its customers and shareholders that has enabled us to achieve exceptional financial results. We also reflect on our focus on investing in new technologies that will help drive further the company’s digital transformation journey and customer centric strategy.”

 

Idris added: “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.”-- TradeArabia News Service