Abu Dhabi National Insurance Company (ADNIC), a prominent regional multi-line insurance provider, announced the approval of 45% cash dividends (AED 0.45 per share) for the financial year ending December 31, 2023, totalling AED 256.5 million. The decision came after the conclusion of ADNIC’s Annual General Meeting (AGM), where shareholders also ratified the company’s financial statements for the mentioned period.

Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, expressed pride in the company’s achievements, stating, “We are proud to have delivered strongly on our promises in the past year, a testament to the strategic direction set forth by management and the unwavering dedication of our employees. Shareholders stand as valued partners in our successful journey, pivotal in propelling ADNIC’s growth and development forward. The distribution of cash dividends underscores our commitment to providing consistent returns on their investments.”

ADNIC’s robust financial performance in 2023, marked by one of its highest profits in history totalling AED 401.2 million, reflects its commitment to strategic growth and market leadership. Looking ahead, the company aims to explore new markets and strengthen its position as a key player in the GCC region.

Charalampos Mylonas, CEO of ADNIC, highlighted the company’s dedication to value creation for customers and shareholders alike, stating, “ADNIC continues to solidify its market-leading position by strategically leveraging its core strengths. This is demonstrated by our record net profit performance for the year and is further evidenced by our distribution of cash dividends.”

He added, “Our commitment lies in creating exceptional value for both our customers and shareholders, while continuously enhancing various aspects of our operations by actively adopting and utilizing new technologies. We are as dedicated as our shareholders are to supporting diverse communities and initiatives across the UAE and beyond, while also aligning with the government’s vision to promote a more sustainable future.”

ADNIC’s decision to distribute cash dividends underscores its financial stability, shareholder-centric approach, and commitment to delivering long-term value amidst a dynamic market landscape.