Qatar Islamic bank approves 42.5% cash dividend

Qatar Islamic Bank (QIB) general assembly has approved the distribution of 42.5% or QR 4.25 per share cash dividend, a Qatar Stock Exchange notification said Monday.
The assembly also approved the bank's financials for the period ended December 31, 2014 and passed reports of external auditors' and Sharia Supervisory Board.
The Extraordinary General Meeting of QIB shareholders approved issuing of unlisted Sukuk eligible for inclusion as Additional Tier 1 Capital in accordance with Basel III, up to a maximum amount of QR 5 Billion and in compliance with the Qatar Central Bank norms and the provisions of the Qatari Commercial Companies Law (Law No. 5 of 2002).