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QNB’s shareholders nod to 60% cash dividends for 2018

QNB’s shareholders nod to 60% cash dividends for 2018
QNB's EGM approved splitting the share’s nominal value to be QAR 1 instead of QAR 10.
QNB
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Mubasher: Qatar National Bank (QNB) on Monday said that its shareholders had approved the board’s recommendation to distribute 60% of the share’s nominal value, or QAR 6 per share, as a cash dividend for 2018 during an ordinary general meeting (OGM) held the previous day.

QNB’s OGM also elected five members to the board of directors representing the private sector, according to the Qatari lender’s statement to the Qatar Stock Exchange (QSE) on Monday.

Meanwhile, the extraordinary general meeting (EGM) of the largest bank in the Middle East and Africa approved splitting the share’s nominal value to be QAR 1 a share instead of QAR 10.

QNB’s profits rose 5.3% to QAR 13.8 billion in 2018, compared to QAR 13.1 billion in 2017.