Ooredoo shareholders nod to 30% cash dividends
By: Eslam Salem
Doha – Mubasher: Qatari telecom operator Ooredoo was cleared by shareholders yesterday to distribute cash dividends at 30% or QAR 3 ($0.82) per share for the fiscal year 2015.
During the ordinary general meeting (OGM), shareholders also endorsed the company’s balance sheet and profit/loss account of the same fiscal year.
Ooredoo’s profits declined last year by 0.75% to QAR 2.118 billion ($581.68 million) from QAR 2.134 billion ($586.078 million) in 2014.
The OGM earlier approved cash dividends at 40% or QAR 4 ($1.10) per share for the fiscal year 2014.
Chairman Abdullah Al Thani expected more challenges in 2016 like currency fluctuation and political instability.
Ooredoo, listed on Qatar and Abu Dhabi bourses, is capitalised at QAR 3.20 billion ($878.84 million) distributed across 320.320 million shares with a nominal value of QAR 10 ($2.75) per share.
Translated by: Elwy el-Manzalawy
