Barwa signs agreement with QNB to distribute dividends cheques to Barwa shareholders

Press release

Published April 21st, 2011 - 08:04 GMT

Al Bawaba

Barwa Real Estate, one of the leading real estate and investment organizations in Qatar, announced that it has inked an agreement with QNB – Shareholders Unit. By virtue of this agreement, QNB shall distribute, via cheques or bank transfers, cash dividends on Barwa shareholders as registered with Qatar Exchange at end of trading session dated 04.04.2011.

QNB shall directly deposit cash dividends into shareholders accounts that are registered with QNB or desirous to register through filling the direct deposit form available in all QNB branches or through issuing cash dividends cheques and sending it via registered post to shareholders post boxes as recorded in Qatar Exchange starting from 28/4/2011.

In case a shareholder does not receive his cheque within one month, it can enquire with QNB, Shareholders Unit, Grand Hamad Street. Then, QNB shall process a new cheque for the relevant shareholder. In addition, shareholders holding less than 100 shares should directly visit QNB Shareholders Unit to receive their cheques.

It is worth mentioning that Barwa AGM&EGM held on 05.04.2011 has approved a distribution of 10% cash dividends equaling one Qatari Riyal per share totaling QAR 389.1 million of 2010 profits.

Background Information

Barwa

Barwa's foundations were laid on 15 November 2005, when it obtained its commercial license. The group's name derives from an important principle in Qatar's commercial heritage - the concept of a reliable and trustworthy agreement or contract. These values form the core of our corporate personality.
Since its establishment, Barwa has proven to be a dynamic and powerful contributor towards the development of Qatar. We seek to contribute to the government's over-arching development plan for Qatar as set out in the Qatar National Vision 2030 which has been launched and is being sponsored by His Highness Sheikh / Tamim bin Hamad Al Thani – The Emir.

Company Profile

Qatar National Bank

Qatar National Bank (QNB), established in 1964 as the country’s first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country, with a market share approaching 40% of banking sector assets.

QNB offers a full range of Retail, Corporate, Investment, Treasury, Wealth Management, and Islamic Banking products and services for individuals, corporate institutions and government entities in Qatar as well as internationally.

QNB has the largest distribution network in Qatar, comprising 44 branches and offices (including 3 mobile branches), in addition to 12 Islamic branches and offices operated by QNB Al Islami, and more than 160 ATMs.

QNB was the first conventional bank in Qatar to offer Shari'a-compliant banking products and services through QNB Al Islami, established in 2005.

QNB’s international presence is rapidly expanding to include new locations around the world to supplement the long established branches in London and Paris. Currently QNB has presence in 23 countries including branches in Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran & Libya. An Islamic branch was recently inaugurated in Sudan, offering a full range of Islamic banking services and products.