Dubai Insurance Company Announces AGM Details
Dubai Insurance Company invites shareholders to its Annual General Assembly Meeting to discuss key financial matters and future strategies.
Summary
Dubai Insurance Company is set to hold its Annual General Assembly Meeting, where shareholders will discuss financial reports, dividends, and board member appointments.
The Dubai Insurance Company has officially announced its Annual General Assembly Meeting (AGM), scheduled for April 9, 2025. This crucial event will see shareholders gather at the company's headquarters or join remotely to deliberate on significant financial and strategic decisions for the fiscal year ending December 31, 2024.
Key agenda items include the approval of the Board of Directors' Report, the Auditor's Report, and the company's balance sheet and profit and loss account. These reports are critical as they provide an overview of the company's financial health and operational efficiency over the past year.
One of the most anticipated discussions will revolve around the Board's proposal to distribute cash dividends. The proposed distribution is set at 80% of the capital, translating to 80 fils per share and a total of 80 million Dirhams. This generous dividend payout reflects the company's strong financial performance and commitment to returning value to its shareholders.
Additionally, the AGM will consider the distribution of cash remuneration to board members, a customary practice that rewards directors for their contributions and governance throughout the year.
Another critical point on the agenda is the discharge of the current Board of Directors and auditors from liability for the fiscal year ending December 31, 2024. This step is essential for maintaining transparency and accountability, ensuring that all stakeholders are satisfied with the company's governance practices.
The appointment of a new auditor for 2025 will also be on the table, along with the determination of their fees. This decision is pivotal as it ensures that the company's financial statements remain accurate and compliant with regulatory standards.
Furthermore, shareholders will be asked to approve the appointment of Mr. Mohamed Abdelaziz Ali Alowais as an independent, non-executive board member, replacing Mr. Abdulla Mohammed Rashid Alhuraiz. This change is subject to the approval of the Central Bank of the UAE (CBUAE) and highlights the company's commitment to refreshing its leadership with diverse expertise.
Given the robust financial performance and strategic initiatives outlined in the AGM agenda, investors might consider holding their positions in Dubai Insurance Company. The proposed dividend distribution and strategic board changes indicate a positive trajectory for the company, suggesting potential growth and stability in the future.
Source
Summary
The Board of Directors of Dubai Insurance Company invites shareholders to the Annual General Assembly meeting on Wednesday, April 9, 2025, at 11:00 AM, either in person at the company headquarters or via remote video technology. The agenda includes reviewing and approving reports from the Board of Directors and auditors for the fiscal year ending December 31, 2024, discussing the company's balance sheet and profit and loss account, and considering proposals for cash dividends and Board member remuneration. Additionally, the agenda includes discharging or removing Board members and auditors, appointing auditors for 2025, and approving the appointment of Mr. Mohamed Abdelaziz Ali Alowais as an independent, non-executive board member, pending approval from the CBUAE. Shareholders may delegate their attendance rights to someone else, excluding Board members, through a special written proxy.
