Takaful shareholders approve dividend payment | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Takaful shareholders approve dividend payment | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Shareholders of Takaful International Company yesterday approved the distribution of cash dividends of 5%, an equivalent of BD 425K (5 fils per share). The approval was during the company’s Annual General Meeting and the Extraordinary General Meeting at its headquarters in Seef Area with a quorum of 91.55%. The shareholders approved financial results for the year ended 31 December 2021, which were announced earlier this year: (Net profit of BD 1,603m compared to BD 1.544m last year with an increasing percentage of 4%, and net profit attributable to the shareholders of the parent of BD 931k compared to BD 1.144m last year and corresponding earnings per share at 10.95 fils compared to 13.46 fils last year). Approval was also given to the purchase of treasury shares not exceeding 10% of the company’s shares, subject to the approval of the relevant regulatory authorities. Ebrahim Al Rayes, the Chairman, said that despite the significant economic fluctuations during the year, the company’s total written contributions increased to BD 24.8 million (2020: BD 22.9 m), adding that the company has achieved growth in its profits due to the collaborative efforts and synergies with the parent company, which facilitated the reduction in operational expenses and