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Ahli Bank OKs distributing 15% of 2017 profits in dividends

Ahli Bank OKs distributing 15% of 2017 profits in dividends
The board nodded to increase the bank’s capital by 5%
Al Ahli
ABQK
5.78% 4.12 0.23

Mubasher: Ahli Bank on Wednesday announced that its ordinary and extraordinary general meetings approved distributing 15% of 2017 profits in cash dividends.

The distributions consist of 10% in cash dividends, in addition to 5% in bonus shares, according to the company’s statement to the Qatar Stock Exchange (QSE).

The board further nodded to increase the bank’s capital by the same amount of bonus shares, or by 5% equaling 10.017 million shares, hence the bank's shares will rise to 210.36 million, the statement added. 

Moreover, the meetings also discussed the Qatar-based lender's activities, its financial position for the year ending 2017, and the future plans.