Doha-Mubasher: Masraf Al Rayan announced in a filing to Qatar Exchange (QE) that the ordinary general meeting approved a cash dividend representing 17.5% of the nominal value (QAR 1.75 per share), as well as the company’s financials for the fiscal year (FY) 2014. 

The bank had reported a profit rise by 17.6% to QAR 2 billion in FY14, compared to figures from FY13.

The statement added that the meeting ratified an amount of QAR 15.37 million as remuneration for the Board members for FY14.

Furthermore, the extraordinary general meeting is postponed to March 8 due to the incomplete quorum.

The meeting is expected to approve the amendments to the bank’s Articles of Association, including the replacement of Qatar Diar with Qatar Holding.