Shareholders approve Masraf Al Rayan’s 20% cash dividend proposal
February 26 2019 08:10 PM
Masraf Al Rayan chairman and MD Dr Hussain Ali al-Abdulla and other directors at the company's ordin
Masraf Al Rayan chairman and MD Dr Hussain Ali al-Abdulla and other directors at the company's ordinary and extraordinary general assembly meeting at the Sheraton Doha on Tuesday. PICTURE: Shemeer Rasheed

Doha

Masraf Al Rayan shareholders have approved the board of directors’ proposal to distribute 20% cash dividend, which translates into QR2 per share.

The approval was given by Masraf Al Rayan shareholders during their ordinary and extraordinary general assembly meeting at the Sheraton Doha on Tuesday.

Masraf Al Rayan chairman and managing director Dr Hussain Ali al-Abdulla presided over the meeting.

Masraf Al Rayan had posted a net profit of QR2.13bn in 2018, up 5.04% on the previous year.

The bank’s total assets reached QR97.2bn in December 2018 compared to QR102.9bn in December 2017.

Financing activities reached QR72.1bn in end-2018 compared to QR72bn in December last year, while investments amounted to QR19.5bn compared to QR23.9bn.

Customers' deposits totalled QR61.5bn in end-2018 compared to QR62.5bn in December 2017.

Shareholders' equity before distribution reached QR13.2bn compared to QR13.1bn in December 2017.

Masraf Al Rayan said its return on average assets continues to be one of the highest in the market at 2.13%.

Return on average shareholders' equity of the bank, before distribution, was 16.1%. Earnings per share for 2018 reached QR2.84, compared to QR2.7 for 2017.

Book value per share, before distribution, was QR17.7, compared to QR17.59 in December 2017.

Capital adequacy ratio reached 19.23% compared to 19.32% in 2017.



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