By: Eslam Salem

Doha – Mubasher: Medicare Group’s shareholders agreed Tuesday to the board of director’s proposal to distribute cash dividends at 50%, equivalent to QAR 5 ($1.37) per share.

During the ordinary general meeting (OGM), shareholders also adopted the company’s balance sheet and profit and loss account of the fiscal year 2015.

The company’s OGM earlier approved the same cash dividends for the fiscal year 2014.

Medicare Group’s profits declined last year by 0.63% to QAR 180.38 million ($49.6 million) from QAR 181.52 million ($49.9 million) in 2014.

“We put a conservative budget for, the current year given the current economic conditions and challenges that we face in 2016, but despite that, we will work on developing and expanding our business,” the company’s Chairman, Abdullah Al Thani, said.

Translated by: Elwy el-Manzalawy