Abu Dhabi – Mubasher: Al Fujairah National Insurance Co. (AFNIC) announced that its board of directors has recommended a cash dividend to shareholders amounting to AED 0.10, or representing 10% of capital and totalling AED 10 million.
The company’s ordinary general meeting (OGM) has been scheduled for 9 April to discuss the board’s recommendations, AFNIC said in its filing to the Abu Dhabi Securities Exchange (ADX).
AFNIC reported a 4.14% decline in its annual net profits for the year ended 2014, reaching AED 18.15 million ($4.94 million) compared to AED 19 million ($5.17 million) in 2013.
Profits for Q3-14 plunged 44.3% to AED 2.95 million, compared to AED 5.3 million during the same period in 2013.
