Doha - Qatar: The ordinary general meeting of Qatar Islamic bank (QIB) approved the board of directors’ proposal to distribute cash dividends at 42.5% the stock's par value or QAR 4.25 per share.
The shareholders meeting also approved the board's recommendation on QIB additional tier 1 (AT1) capital perpetual sukuk and QIB sukuk programs.
The board nods were given for the extension of the approval of the QAR 3 billion remaining from the additional tier 1 (AT1) capital perpetual sukuk that was already admitted as part of the QAR 5 billion.
Also, the directors approved increasing the maximum size of QIB sukuk program to at the level of $3 billion instead of $1.5 billion.
