By Eslam Salem
Doha – Mubasher: Ezdan Holding Group shareholders approved on Monday the board’s recommendation on distributing cash dividends at QAR 0.50 per share, or 5% of capital.
In their ordinary general meeting, shareholders also endorsed the balance sheet and profit/loss statement for the fiscal year 2015.
Meanwhile, the group’s extraordinary general meeting gave a nod to the issuance of sukuk worth $2 billion or their equivalent in other currencies, to be in tranches.
The first sukuk tranche will be valued at $500 million, which will be issued in the second quarter of this year after obtaining required approvals.
Ezdan’s FY15 profits rose by 22% year-on-year to QAR 1.66 billion ($450.4 million).
Translated by Sayed Abdel Rahman
