Doha – Mubasher: The general assembly of Qatar General Insurance and Reinsurance Co approved the distribution of cash dividends for 2016.

The dividends will be at QAR 1.5 per share, representing 15% of the capital, according to a bourse filing on Wednesday.

The company's capital amounts to QAR 875.1 million, distributed over 87.51 million shares at a nominal value of QAR 10 per share.

The meeting also agreed on the board and auditor's reports for the fiscal year ended on 31 December 2016, the statement said.

During the twelve-month period, profits retreated 76.3% to QAR 219.34 million from QAR 925.71 million in the year-ago period, according to a bourse filing on Thursday.