Dubai – Mubasher: Al-Sagr National Insurance Company (ASNIC) announced that its board of directors proposed a cash dividend representing 10% of capital and amounting to AED 0.10 per share at a total value of AED 23 million.

The board scheduled the company’s shareholders’ meeting for 27 April. It also approved financials for 2014, according to a filing to the Dubai Financial Market (DFM) on Thursday.

ASNIC reported net profit growth of 10.4% in 2014, up to AED 56.1 million ($15.27 million) compared to AED 50.8 million ($13.8 million) the year before.

The mother company’s profits rose to AED 55.7 million in 2014, compared to AED 53.56 million in 2013.

ASNIC’s capital amounts to AED 230 million divided on 230 million shares at par value of AED 1 per share.