Mubasher: Vodafone Qatar on Tuesday announced that its shareholders had approved distributing cash dividends for 2018 during an ordinary general meeting (OGM) and an extraordinary general meeting (EGM) held in the previous day.

The Qatari telecom operator’s OGM approved the board of directors’ recommendation to distribute a cash dividend of 5% of the share’s nominal value, or QAR 0.25 per share, for fiscal year 2018, according to the company’s statement to the Qatar Stock Exchange (QSE).

In addition, Vodafone Qatar’s EGM approved amendments to the company’s articles of association and split the share’s nominal value to QAR 1, in line with Qatar Financial Markets Authority’s (QFMA) regulations.

The Qatari telecom operator’s capital reaches QAR 4.23 billion, distributed over 845.40 million shares, with a nominal value of QAR 5 a share.

In February, Vodafone Qatar reported turning a profit in 2018 after logging QAR 117.8 million ($32.24 million), against losses of QAR 182.2 million ($49.87 million) in the first nine months of 2017.

By 11:16 am Qatar time, Vodafone Qatar’s stock fell 3.56% to QAR 7.89.