Qatar – Mubasher: Telecom operator Ooredoo will hold its ordinary general meeting (OGM) on 29 March to discuss the proposed dividends for 2014, the company said in a filing to the Qatar Exchange (QE) and Abu Dhabi Securities Exchange (ADX) on Thursday.

Ooredoo’s board of directors recommended a cash dividend of QAR 4 per share, totalling QAR 1.3 billion.

In the event of an incomplete quorum, the meetings will be rescheduled to 5 April.

The operator reported a 17% decline in its net profit for the full year 2014 to QAR 2.1 billion against QAR 2.5 billion in 2013. Financials for Q4-14 showed a sharp drop by 89% to QAR 55 million compared to QAE 510 million during the same period in 2013.

Ooredoo also reported a growth in its customer base in 2014, up by 12% to 107 million clients. This rise was backed by growing subscribers in Indonesia, Iraq, Kuwait, Myanmar and Algeria.

The firm’s capital amounts to nearly QAR 3.2 billion (around $848 million) divided on 320.3 million shares at par value of QAR 10 per share.