By: Eslam Salem

Doha – Mubasher: Al Khaleej Takaful Group’s shareholders approved on Monday the board of director’s recommendation to distribute cash dividends at 10% of the capital or QAR 1 ($0.27) per share for the fiscal year 2015.

The company’s ordinary general meeting (OGM) also adopted the balance sheet and profit and loss account of 2015.

The OGM earlier agreed to distribute cash dividends at 15% and 15% bonus shares for the fiscal year 2014.

Al Khaleej’s profit declined last year by 41.7% to QAR 43.38 million ($11.91 million) from QAR 74.4 million ($20.43 million) in 2014.

“We are aiming at boosting the company’s role despite the fierce competition and the recession in the market,” the chairman, Abdullah Al Thani, said.

The company is capitalised at QAR 225.27 million ($81.86 million) distributed across 25.52 million shares with a nominal value of QAR 10 ($2.75).

Translated by: Elwy el-Manzalawy