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QIB OGM to discuss annual dividends 21 February

QIB OGM to discuss annual dividends 21 February
(Photo credit: Qatar Islamic Bank)
QIB
QIBK
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Mubasher: Qatar Islamic Bank (QIB) said Monday that it will hold its ordinary general meeting on 21 February to discuss the distribution of cash dividends of QAR 4.75 per share (47.5% of the share’s nominal value) for fiscal 2016.

The bank set 28 February as an alternative date for the meeting in case lack of quorum, according to a bourse filing.

The OGM will discuss the bank’s balance sheet and profit and loss account for the year ended on 31 December 2016, in addition to the reports of the board of directors, auditor and the sharia supervisory board on the year.

Furthermore, the OGM will look into a proposal to increase the limit of the perpetual Sukuk “Additional Tier 1 Capital (AT1) Sukuk” from QAR 5 Billion to QAR 7.5 Billion.