Doha – Mubasher: Qatar General Insurance and Reinsurance Company’s profits declined in the first of fiscal 2016 by 31.1% to QAR 53.69 million ($14.76 million) from QAR 77.94 million ($21.43 million) in Q1-15.
Earnings per share reached QAR 0.61 ($0.17) by the end of March 2016, compared to QAR 0.89 ($0.24) in the same period of 2015, according to a bourse filing on Thursday.
General Insurance earlier posted a net profit of QAR 925.8 million ($254.24 million) in 2015, with a rise of 0.63% year-on-year.
The company’s general meeting approved cash dividends at 25% or QAR 1.5 ($0.41) and bonus shares at 10% for the fiscal year 2015.
The stock fell 0.20% to QAR 48.85 ($13.42) on Wednesday.
