Doha - Mubasher: Qatar Islamic International Bank’s (QIIB) ordinary general meeting (OGM) will discuss on 3 April a suggestion of its board to distribute dividends worth 40% of its capital, or QAR 4 per share, according to a statement.
QIIB’s statement to the Qatar Stock Exchange (QSE) on Thursday stated that 10 April will be the alternative appointment in case of lack of quorum.
The bank’s financial statements of the year which ended on 31 December 2016 will be discussed and members of the board of directors will be elected during the meeting, according to the statement.
The OGM’s previous decision about issuing non-convertible capital sukuk worth QAR 3 billion will be taken into consideration.
QIIB’s capital amounts to QAR 1.5 billion distributed on 151.37 million shares with a nominal value of QAR 10 per share.
The board had recommended on 25 January the distribution of 40% of its capital in cash dividends; the same estimated ratio of 2015.
Annual net profits of QIIB in 2016 reached QAR 785 million compared to QAR 784 million at the end of 2015, as amount earnings were set at 5.18% per share.
The bank’s stock rose 0.44% to QAR 68.3 mid-session on Thursday.
