Qatar General Insurance & Reinsurance Co. QGRI

47.95 -0.54 -1.12 %

QGIRCO shareholders approve 22% dividend proposal

(3/13/2018 7:38:00 AM)

The ordinary and extraordinary general assembly meetings of Qatar General Insurance & Reinsurance Company (QGIRCO) were held at the Marriott Hotel in Doha yesterday. Qatar General Insurance & Reinsurance Company chairman Sheikh Nasser bin Ali bin Saud al-Thani presided over the meetings. At the general assembly, the company shareholders approved the Board of Director’s proposal to distribute cash dividends to the shareholders for the financial year 2017 at the rate of 22% of the nominal value of the share, which is equivalent to QR2.2 per share.

They also approved the company’s Corporate Governance Report for 2017. At the extraordinary general assembly, the shareholders approved the amendment of the company’s articles of association to comply with the ‘Governance Code for Companies & Legal Entities Listed on the Main Market’, issued by the decision of the Qatar Financial Markets Authority Board of Directors No (5) of the year 2016 by amending Article No (43) of the company’s articles of association.

Gulf Times