Mubasher: Widam Food Company on Monday announced that its shareholders had approved splitting the share’s nominal value to QAR 1 from QAR 10 during an extraordinary general meeting (EGM) held the previous day.
Widam’s EGM also approved amendments to the company’s articles of association to comply with Qatar Financial Markets Authority’s (QFMA) regulations on split of nominal shares of listed companies, according to the company’s statement to the Qatar Stock Exchange (QSE).
In February, Widam’s ordinary general meeting (OGM) raised the dividend payout to 45% of the share’s nominal value, or QAR 4.5 per share, from the proposed 30%.
Widam’s profits inched up 0.3% to QAR 108.39 million in 2018, against QAR 108.08 million in the prior year.
By 11:23 am Qatar time, Widam’s stock rose 0.79% to QAR 63.17.