By: Eslam Salem
Doha-Mubasher: Shareholders of Commercial Bank of Qatar (CBQ) gave the go-ahead on Wednesday to the cash dividend payout for 2015.
Cash dividends stand at 30% of the share’s par value, equivalent to QAR 3 per share.
“Our future plans focus on strengthening the bank's position,” Abdullah bin Ali bin Jabor Al-Thani said during the ordinary general meeting (OGM).
“A Qatari government entity subscribed to our QAR 2 billion unsecured perpetual non-cumulative Additional Tier1 notes in February 2016,” he added.
The shareholders approved during their extraordinary general meeting (EGM) a global programme for the issuance of certificates of deposit, US and European commercial paper in different currencies.
They also agreed on the direct issue of unlisted instruments that shall be eligible as Additional Tier 1 capital security according to Basel III requirements, up to a maximum amount of QAR 2 billion.
EGM also gave a nod to approve the Company’s issue of stand-by securities, which are eligible for listing as part of Tier 2 capital according to Basel III requirements up to a maximum amount of $500 million.
