IHG to distribute 3% cash dividends

24/08/2017 07:33 AST

Investment Holding Group's (IHG) general assembly has approved the board's recommendation to distribute cash dividends to shareholders at a rate of 3% (for 2016) of the nominal value of the share equivalent to 30 dirhams per share.

The meeting, held at St Regis Hotel Doha yesterday, was presided over by Investment Holding Group deputy CEO Mohamed Ghanim al-Hodaifi.

Al-Hodaifi said IHG "is continuing to pursue its approach to asserting the private sector's presence in the national economy as a true partner to keep pace with the government's efforts to achieve sustainable social and economic development in line with the priorities of Qatar's 2030 vision."

IHG was listed on the Qatar Stock Exchange (QSE) on August 14. Al-Hodaifi said the listing of the shares "has enabled all individuals and legal persons to purchase shares on the Qatar Stock Exchange, in accordance with the rules of dealing in the stock exchange and the laws in force in the State of Qatar."

"Shares may be freely traded and transferred in accordance with the company's Articles of Association, the Qatar Financial Market Authority regulations, and the Qatar Stock Exchange rules," he added. During the listing ceremony of IHG, QSE CEO Rashid bin Ali al-Mansoori said family companies in Qatar have expressed "a great deal of interest" to list on the QSE. He added that the listing of IHG "would stimulate other family companies to go public on the QSE."

"We are pleased to welcome Investment Holding Group into the family of listed companies on the exchange. Investment Holding Group is a company that will increase exchange depth and brings new opportunities to the investing public," al-Mansoori said during IHG's listing ceremony.

Gulf Times