Mubasher: The Commercial Bank of Qatar (CBQ) on Thursday announced that its shareholders had approved distributing 15% of the share’s nominal value, or QAR 1.5 a share, as a cash dividend for 2018 during an ordinary general meeting (OGM) held the previous day.
The total value of the dividends amounts to QAR 607.09 million, according to the lender’s statement to the Qatar Stock Exchange (QSE).
The Qatari bank’s shareholders also approved raising the limit of the current global programmes for issuing certificates of deposit, US and European commercial papers in different currencies from $800 million to a maximum amount of $5 billion with a maximum maturity of up to five years less one day for any of the said issuances.
Additionally, the OGM approved launching a new global medium term notes (GMTN) programme with a maximum value of $2 billion and a maximum maturity of 30 years.
The Qatari lender’s shareholders also approved issuing debt notes of up to $2 billion under the euro medium note programme with a maximum maturity of 30 years as well as issuing debt notes with maximum value of $1 billion and a maximum maturity of 30 years.
For the full-year 2018, CBQ’s profit leapt 175%, logging QAR 1.66 billion from QAR 603.64 million in the prior year.
By 01:13 pm Qatar time, CBQ’s stock dropped 0.61% to QAR 43.18.
