Shareholders of QIC Group approved the recommended distribution of cash dividend payout at the Annual General Meeting held yesterday at the Grand Hyatt Doha Hotel at West Bay Lagoon. The AGM was chaired by Abdulla bin Khalifa Al-Attiya, Deputy Chairman of the Board of Directors.
During the meeting, the shareholders discussed the Group’s annual performance and endorsed the recommended distribution of cash dividend payout of 15% for the year ended 31st December 2019. In addition to this, they approved QIC Group’s consolidated financial statements, Independent Auditor’s Report, Board of Directors and Corporate Governance reports for the year 2019. During the AGM, the shareholders also finalised the appointment of the auditors for the year 2020. The members of the Board of Directors for the period 2020 – 2022 were also elected during the meeting.
Where the following members in the category of non-independent member won by acclamation: Sheikh Khalid bin Mohammed bin Ali Al-Thani, Sheikh Saoud bin Khalid bin Hamad Al-Thani, Mr. Hussein Ibrahim Al-Fardan (representing Al-Fardan Investment Company) and Sheikh Faisal bin Thani bin Faisal Al-Thani (representing Broog Trading Company), Mr. / Ali Youssef Hussein Kamal (representing Al Kamal International Group), Mr. / Jassim Mohammed Ibrahim Jaidah (representing Al Jaidah Motors and Trading Company), Sheikh Jassim bin Hamad bin Jassim Jabor Al-Thani (representing Al-Mirqab Capital Company), and Mr. / Khalaf Ahmed Al-Mannai – by appointment of the General Retirement and Social pension Authority (Social Pension Fund).While Mr. Abdullah bin Khalifa Al-Attiyah, Sheikh Abdul Rahman bin Saud bin Fahd Al Thani and Sheikh Hamad bin Faisal bin Thani Al Thani won the membership for the independent category, and Mr. Hassan bin Hassan Al-Mulla Al-Jafiri came as a standby member.
Group President Mr. Khalifa Abdulla Turki Al Subaey commented: “Despite global repercussion, which has massively influenced major sectors in the region, QIC Group has witnessed strong business momentum and has performed in line with our expectations.”
He added, “For 2020, our outlook remains cautiously positive. We shall focus on consolidation and enhance our operational efficiency. With renewed focus on achieving bottom-line driven growth, we will continue to maximize value for our shareholders, our trusted business partners and customers while supporting development of the sector and the economy.”