Ahlibank AGM approves 15% cash dividend for 2021 – The Peninsula

Ahlibank AGM approves 15% cash dividend for 2021 – The Peninsula

Doha: Ahlibank held its Annual Ordinary and Extraordinary General Meetings yesterday, chaired by Sheikh Faisal bin AbdulAziz bin Jassem Al Thani, Chairman of the Board with attendance from the Bank’s shareholders. The Annual Ordinary and Extraordinary General Meetings were held in adherence to the precautionary measures taken by the State of Qatar to avoid the spread of (COVID-19).

Ahlibank’s Board reported a net profit of QR713m for the year ended 2021 compared to QR680m for the year 2020. The Annual Ordinary General Meeting (AGM) approved the Board’s recommendation for distribution of dividends to the shareholders as cash dividend of 15 percent (QR0.15 per share) and 5 percent free shares for the year 2021.

The Annual Extraordinary General Meeting approved the continuation of the $2bn medium-term bond programme (EMTN) and authorising the Board of Directors to update the programme from time to time, pay any tranche and issue new bonds.

The meeting approved the increase of the Bank’s capital by the number of free shares approved by the AGM’s resolution equal to 5 percent amounting to 121,483,151 shares, such that the Bank’s capital becomes 2,551,146,170 shares.

The meeting also approved amendment of a few articles of the Bank’s Article of Association and which include amendments