QIB OKs distributing QAR0.5/shr dividends for 2017

QIB OKs distributing QAR0.5/shr dividends for 2017
QIB will increase the limit of dollar-denominated sukuk programme to a maximum of $4 billion
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Mubasher: Qatar Islamic Bank (QIB) on Thursday announced that the ordinary general assembly and the extraordinary general assembly approved distributing a cash dividend of 50% of the nominal value of share capital, equalling QAR 0.5 per share for 2017 profits. 

Moreover, the board approved the increase and renewal of the bank’s sukuk programme, according to the lender’s statement to the Qatar Stock Exchange (QSE).

The renewal of sukuk will rise to QAR 7.5 billion up from QAR 4 billion, the Gulf state's largest sharia-compliant lender by assets noted. 

Moreover, the Qatar-based bank will increase the limit of dollar-denominated sukuk programme to a maximum of $4 billion from $3 billion, the statement added.

As for non-Qataris’ acquisition, QIB approved increasing ownership percentage of the non- Qataris in the bank’s capital to 49%, up from 25%.