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 for the financial year ended 31 December 2024, at the company's Annual General Meeting (AGM) on 27 February.
This implies total cash dividends of AED256.5m ($69.8m) for 2024, at a dividend rate of AED0.45 per share.
Shareholders discussed and approved all items on the agenda for the AGM, including ADNIC’s financial statements for the year ended 31 December 2024.
ADNIC chairman Sheikh Mohamed Bin Saif Al-Nahyan, said in a statement, “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.”
He added, “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.”
ADNIC’s approved 45% dividend rate for 2024 is the same as that for 2023 and higher than the 40% cash dividends for 2022.