Dubai - Mubasher: The board of directors of Al Sagr National Insurance Company (ASNIC) recommended distributing cash dividends for 2016, representing 5% of capital or 5 fils per share.
The dividends have a total value of AED 11.50 million.
The ordinary general meeting (OGM) will be held on 25 April to discuss the board's recommendation, according to the company's disclosure to the Dubai Financial Market (DFM) on Sunday.
In the event of an incomplete quorum, the OGM will meet on 30 April.
ASNIC last reported narrowing its losses by 85.97% to AED 10.55 million in the fourth quarter of 2016, compared to AED 75.18 million in the same period of 2015.
Al Sagr turned to profitability in 2016 with AED 20.72 million in profits against losses of AED 105.03 million in 2015.
