The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Abu Dhabi National Takaful Company (ADNTC) announced its financial results for the year that ended on December 31, 2017.
The company posted a combined net profit of AED64.6 million for 2017 (for policyholders & shareholders before Qard Hasan provision). Shareholders net profit reached AED59 million compared to AED48.4 million for the same period last year representing an impressive increase of 22%. The total gross contributions reached AED373.8 million compared to AED320.8 million for the year ended December 31, 2016 representing 16.5% increase.
These results were released after the approval of the annual general assembly meeting, where AED 20 million in dividends representing 20% of the paid-up capital (20 fils per share) were also
declared for 2017.
It is worth noting that due to the company’s consistent strong performance, 2017 dividend’s distribution is the highest comp-
ared to previous financial years where during 2013 to 2016 the company distributed dividends representing 16% of its paid-up capital. Khamis Buharoon Al Shamsi, Chairman of ADNTC Board of Directors, said, “2017 has been a remarkable year for us where we successfully delivered our strongest annual financial
results to date.â€