Doha – Mubasher: Doha Insurance Company’s ordinary general meeting (OGM) agreed on the distribution of cash dividends of QAR 0.6 per share (6% of the stock’s nominal value) for fiscal year 2016.

The OGM discussed and approved the balance sheet and profit/loss account for the financial year which ended on 31 December 2016, according to a bourse filing released on Wednesday.

The company is capitalised at QAR 500 million distributed across 50 million shares with a nominal value of QAR 10.

Meanwhile, the extraordinary general meeting (EGM) approved to change the company’s name to Doha Insurance Group, and agreed on a proposal to spin off the company’s takaful branch, Doha Takaful, into a separate limited liability company.

By 10:05am Doha time, the stock rose 0.06% to QAR 17.96.