QNB's AGM
Endorses Agenda, Approves Distribution of
35% Cash Dividend & 10% Bonus Shares
February 06, 2017
QNB Group announces the
results of the Ordinary and Extraordinary
General Assembly Meetings was held on Sunday
05/02/2017 and has approved the following
resolutions:
Agenda of the Ordinary
General Assembly
1.
Heard the statement of His Excellency the
Chairman and the report of the Board of
Directors on the Company’s activities,
financial position for the year ended 31
December 2016 and the business plan for
2017.
2.
Approved the report of the External Auditors
on the Bank’s balance sheet and on the
accounts submitted by the Board of
Directors.
3.
Approved the balance sheet and profit and
loss for the year ended 31 December 2016.
4.
Approved the proposal of the Board of
Directors to distribute to the shareholders
cash dividends at the rate of 35% of the
nominal share value, i.e. QR3.5 for each
share, and a bonus share at the rate of 10%,
i.e. 1 share for every 10 shares.
5.
Approved the transfer of the necessary
amounts from the retained profits to the
legal reserve for this reserve to become
100% of the capital(excluding issue fees).
6.
Released from liability the members of the
Board of Directors and fixed their fees for
the financial year ended 31 December 2016.
7.
Discussed the Bank’s Corporate Governance
Report for 2016.
8.
Appointed Ernst & Young as External Auditor
for the Company for the financial year 2017
and fixed their fees.
9.
Agenda of the Extraordinary General Assembly
10.
Approved the increase of the share capital
of the Bank which is in the amount of
QR8,396,753,250 by distributing bonus shares
at 10% of the present capital to read as
follows:
11.
The Bank’s capital is in the amount of
QR9,236,428,570 (Qatari Riyals nine billion
two hundred thirty six million four hundred
twenty eight thousand and five hundred
seventy), divided into 923,642,857 (nine
hundred twenty three million six hundred
forty two thousand and eight hundred and
fifty seven) ordinary shares, with a nominal
value of each QR10 (Qatari Riyals ten).