Shari’ah compliant insurance service provider, Amãna Takaful Maldives conducted the ninth AGM on a virtual platform for the first time.
Given the trying conditions arising from the global pandemic, Amãna Takaful hosted this historical AGM adhering to social distancing guidelines set out by the Health authorities. The AGM was conducted in the presence of shareholders representing corporate and individuals.
The Board of Directors declared a final payment of dividends of 5%. This adds up to 10% dividend on the face value of shares for the financial year ended 2019.
The company recorded Profit Before Tax of MVR 14.9 million. Gross Written Premium, the key revenue indicator, soared to MVR 138 million over-performed Industry growth in 2019. Higher revenues coupled with prudent underwriting, efficient claims management restrained costs and judicious investment management contributed to the improved consolidated results.
For the eighth consecutive year Amãna Takaful declares dividends to its shareholders. In addition to the interim dividend payout in August 2019, a final dividend was approved at the AGM.
The Company has proved its determination, through its steady and consistent performance, despite the overall economic uncertainties and headwinds in the macro environment. Based on the financial results of 2019, a total dividend of 10% will be distributed amongst our Shareholders, amounting to MVR 2.6 million. The Company has paid out 75% of its accumulated profits as dividends from the time it was listed in the Maldives Stock Exchange,” said Chairman Tyeab Akbarally.