ADNIC Shareholders Greenlight 45% Cash Dividends At AGM

Abu Dhabi National Insurance Company (ADNIC) has concluded its Annual General Meeting (AGM), announcing a significant return to its shareholders for the financial year that ended on 31st December 2023. The company has declared a 45 percent cash dividend, translating to AED 0.45 per share, which amounts to a total cash dividend of AED 256.5 million. This decision underscores ADNIC's robust financial health and its commitment to rewarding its investors.

During the AGM, shareholders reviewed and ratified all agenda items, including the financial statements for the year. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ADNIC, highlighted the company's strong performance over the past year, attributing it to strategic management decisions and the dedication of its employees. He emphasized the role of shareholders in the company's growth and assured them of ADNIC's dedication to delivering consistent investment returns.

2023 was a landmark year for ADNIC, as it recorded one of its highest profits in history, amounting to AED 401.2 million. Sheikh Mohamed expressed optimism about the future, stating plans to expand into new markets and strengthen ADNIC's presence in the GCC region.

Charalampos Mylonas, CEO of ADNIC, also commented on the company's achievements, noting the strategic initiatives that have cemented ADNIC's leadership in the market. He highlighted the company's focus on creating value for customers and shareholders alike and its commitment to leveraging new technologies to enhance operational efficiency.

Mylonas further discussed ADNIC's dedication to community support and sustainability initiatives in line with the UAE government's vision for a sustainable future. This approach not only positions ADNIC as a financially sound entity but also as a socially responsible organization.

The distribution of cash dividends by ADNIC is a testament to its financial strength and strategic foresight. As it moves forward, ADNIC aims to maintain its trajectory of growth while continuing to invest in technologies and initiatives that support broader societal goals.

With inputs from WAM