Salam International Investment’s (SIIL) general assembly approved the board’s recommendation to distribute a cash dividend equal to 8% (for 2016) of the company’s paid-up capital to shareholders amounting to QR0.80 per share. During the meeting, presided over by SIIL chairman Issa Abdul Salam Abu Issa, it was announced that SIIL posted a net profit of QR119.7mn in 2016. The general assembly also approved the renewal of the authorisation granted to the board in connection with purchasing, selling, renting, and mortgaging the company’s and its subsidiaries’ real estate assets. In addition, to hold the loans, issue letters of credit and guarantees necessary to obtain bank facilities in order to run the company and its subsidiaries, finance their future projects, and compile and reschedule loans. In addition, to authorising the chairman of the board to grant power of attorney to a board member or executive director of the company, whether jointly or separately, to execute the above resolution on real estate and loans. The general assembly approved the renewal of its joint venture agreements with Salam Bounian, where authorising the board to enter into joint ventures with the sister company, in addition to holding their loans and issuing letters of credit and guarantees where necessary. PICTURE: Shaji Kayamkulam