Doha - Mubasher: Qatar Islamic Insurance reported a growth in profits by 24.1% year-on-year in the fourth quarter of 2016, as shown by the company’s financial statement.

Profits totalled QAR 13.38 million ($3.67 million) in Q4-16 compared to QAR 10.78 million ($2.96 million) in Q4-15, according to the company’s statement to the Qatar Stock Exchange (QSE) on Sunday.

On the other hand, annual profits declined by 22.6% to QAR 63.5 million down from QAR 81.99 million in the year before, the statement indicated.

The company’s board recommended the distribution of cash dividends to shareholders for the fiscal yeat 2016, at QAR 3.5 per share of 35% of capital.