By: Eslam Salem
Doha – Mubasher: Shareholders of Salam International Investment Ltd company approved Tuesday the board of director’s proposal to distribute cash dividends at 10% of the capital or QAR 1 ($0.27) per share for the fiscal year 2015.
The company’s ordinary general meeting (OGM) also adopted the company’s balance sheet and profit and loss account of 2015, and appointed an auditor for the new fiscal year.
The OGM earlier agreed to distribute cash dividends at 6% of the share’s par value or QAR 0.6 ($0.16) per share for the fiscal year 2014.
The company’s profits reached QAR 123.9 million ($34.02 million) in 2015, versus QAR 78.3 million ($21.50 million) in 2014.
“This year, we will work on rationalizing construction activities and reducing some useless activates due to the falling oil prices, which will consequently affect the performance of the company and its subsidiaries,” Salam International’s Chairman, Essa Abdul Salam Abu Essa.
The company’s stock closed yesterday’s trading with a fall of 1.95% to QAR 13.24 ($3.64).
Translated by: Elwy el-Manzalawy
