Abu Dhabi – Mubasher: Abu Dhabi National Takaful’s board of directors on Monday recommended a distribution of cash dividends of 16 fils per share for fiscal year 2016.

The increase represents 16% of the company’s capital, and totals AED 16 million, according to a bourse filling.

The company is capitalised at AED 100 million, distributed among 100 million shares, with a par value of AED 1 per share.

In April 2016, the company’s board approved the same dividends for FY15.

The company’s profits rose 17.8% to AED 49 million in 2016 from AED 41.6 million during the previous year, while profits of the fourth quarter in 2016 declined 67.7% year-on-year to AED 3.96 million from AED 12.24 million.