H.E. Dr. Ali Saeed bin Harmal Al Dhaheri, Chairman of the Board of National Takaful Company “Watania” said that the company’s annual general assembly approved in its meeting distributing 6% cash dividends to shareholders for the results of the year 2019 for the second year in a row, noting that 5% cash dividends were distributed for the year 2018.
In a press release published after the general assembly meeting, Al Dhaheri declared that the company has performed well in light of the various challenges facing the insurance sector, such as competitive prices and challenges related to the collection of amounts owed. In fact, the company overcame these challenges by putting tight control on expenditures, despite the fluctuations in the investment climate during in 2019. He added that the company will continue to enhance its resources and focus on reducing risks in its investment portfolio to achieve sustainable investment returns.
The Chairman of the Board stated: “The general assembly agreed to distribute 6% dividends to shareholders for the year 2019, for the second year in a row, which clearly shows that the company’s strategic plan “back to basics” adopted in 2016 began to bear fruit.
The company will continue to diversify its resources and monitor its expenditures to ensure sustainable returns for its shareholders. We will also continue to invest in our various IT platforms to ensure a smooth customer experience and increase our efficiency and productivity.
Commenting on future expectations, Al Dhaheri said: “Despite the significant impact of Corona virus on the global economy, the UAE was among the first countries that have taken strict proactive steps to control the spread of the virus, and provided a package of economic incentives to support various sectors in the market. We are confident that once companies return to normal work, the sector will recover and we will be in a good position to seize opportunities and continue to grow in a way that fulfills the aspirations of shareholders. “
