Doha – Mubasher: Industries Qatar said Wednesday that its ordinary general meeting (OGM) has approved the distribution of cash dividends of QAR 4 per share (40% of the stock’s nominal value) for fiscal year 2016.

The company is capitalised at QAR 6.05 billion distributed across 605 million shares with a nominal value of QAR 10.

The OGM also approved the financial statements for FY16, according to a bourse filing.

The company’s annual profits fell 34% to QAR 2.95 billion for 2016, compared to QAR 4.47 billion for 2015.