Wednesday, Feb 07, 2007
BEIRUT (Zawya Dow Jones)--Qatar Insurance Co. shareholders approved on Tuesday the distribution of cash dividends representing 100% of the share's par value, or 10 Qatari riyals ($2.7) a share.
The cash dividends will be subject to a 30% discount of previous distributions paid on account, the company said in a statement on the Doha Securities Market Web site.
In January, QIC said that its 2006 full-year net profit rose 37% to QAR388.23 million from QAR284.1 million in 2005.
Earnings per share rose to QAR9.13 from QAR6.69.
QIC's stock traded down 9.2% at QAR95 Tuesday.
Established in 1964, QIC has over 42.4 million outstanding shares.
-By Ayat Basma, Zawya Dow Jones; +961-1-985 757;ayatb@zawya.com
Copyright (c) 2007 ABQ Zawya Ltd.
(END) Dow Jones Newswires
07-02-07 0847GMT
