Amana Takaful Maldives (ATM) has approved the highest amount of dividend to be paid to shareholders in its 11-year history.
During the Annual General Meeting (AGM) 2021, the Board of Directors proposed the highest dividend in the history of ATM considering its financial performance in the past year. Last year, the ATM posted a profit before tax of USD1.42 million, which is an increase of 37% compared to 2020.
Revenue reserves increased 25% recording USD4.7 million as of December 31, 2021, and total capital increased to USD14.7 million during the period. Despite the slowdown caused by COVID-19, ATM posted a 9% increase in profit. Meanwhile, the company’s total revenue for 2021 was USD9.8 million.
The Board of Directors has approved an interim dividend of 10% and a final dividend of 10%. Therefore, the total dividend for 2021 will be paid at 20% of the face value per share which is a 14% increase compared to the 2020 dividend.
As the first Takaful company in the Maldives, ATM pays great attention to its social responsibility, by working with private associations, schools, colleges, and government institutions to develop various aspects of the society. ATM is the only fully-fledged Takaful operator listed on the Maldives Stock Exchange (MSE) and has created a niche in the market with widespread acceptance garnered over the years.