By: Eslam Salem
Doha – Mubasher: The ordinary general meeting (OGM) of Qatar National Bank (QNB), held yesterday, approved a proposal by the bank’s board to distribute cash dividends at 35% of the share’s par value or QAR 3.5 per share and bonus shares at 20% of the bank’s capital for 2015.
The OGM also approved the auditor’s report about the bank’s balance sheet and the profit and loss account for the bank for 2015, as well as transferring the necessary amounts from the retained profits to the legal reserve for this reserve to become 100% of the capital.
Shareholders agreed to amend some articles in the bank’s statute to increase its capital from QAR 6,997 billion to QAR 8.396 billion distributed on 839.675 million shares, with a nominal value of QAR 10.
The bank earlier reported a net profit of QAR 11.3 billion in 2015, versus QAR 10.5 billion in 2014, with a rise of 8%.
Translated by: Elwy el-Manzalawy
