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FINANCIAL NEWS
Qatar’s QIC 2012 profit climbs to USD167.52m
24 Jan 2013
(MENAFN) Qatar Insurance Company (QIC) stated that its net profit for last year grew to USD167.52 million from USD162.44 million in 2011, reported Qatar News Agency.
The firm said that it will dispense 25 percent cash dividend and 20 percent of the capital bonus share issue, or one share for 5 held shares.
The board has proposed lifting the capital after the rise of the bonus shares by 20 percent to USD352.53 million through issuing 21,405,384 new shares for the current shareholders at the par value of USD2.74 plus a premium of USD0.823.
Thus, the company’s capital will grow to USD293.77 million.
Furthermore, the company’s board has suggested adjusting article (7) of the firm’s Articles of Association to enable the Qatari government; it’s organizations, institutions and associates to hold over 5 percent of the firm’s shares.
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