Manama: Arab Insurance Group’s (Arig) shareholders approved a 10% cash dividend at the company’s 26th Annual General Assembly Meeting held in Bahrain today. Shareholders will receive a US$ 22 million payout following another year of strong performance, during which Arig posted net profits of US$ 30.4 million, representing a 10.7% average return on equity.

Citing that the company was happy to have achieved a respectable result in a highly competitive marketplace, the Board and Management of Arig expressed their determination to continue letting shareholders participate in the value created from its operations. In 2006, Arig had released a 5% cash dividend and 10% of its paid-up capital as bonus shares.