Mubasher: Masraf Al Rayan on Tuesday announced that its shareholders had approved distributing a cash dividend of 20% of the share’s nominal value, or QAR 2 per share, for 2018 during an ordinary general meeting (OGM) held in the previous day.

The Qatari lender’s OGM approved the payment of board remuneration of QAR 14.3 million for the fiscal year ended 31 December 2018, the bank said in a statement to the Qatar Stock Exchange (QSE).

The bank’s OGM also nodded to authorise the board of directors to establish a $1 billion trust certificate issuance programme and endorse the OGM’s approval in its meeting on 2 April 2017 to increase the programme’s limit to $2 billion from $1 billion to meet the bank’s general funding requirements.

In 2018, Masraf Al Rayan’s profits levelled up 4.9% to QAR 2.13 billion, from QAR 2.03 billion in the prior year.

By 10:54 am Qatar time, Masraf Al Rayan’s stock dropped 4.56% to QAR 37.71.