Dividend distribution raises QNB stock to 32.28 pounds

The shares of Qatar National Bank – Egypt, listed and traded on the Egyptian Stock Exchange, rose by 0.43% at the beginning of trading today, Tuesday, to trade at a price of 32.28 pounds per share, following the bank’s announcement of cash distributions to shareholders.

1.72 thousand shares of Nofoth Food Products Company were traded at that time, with a trading value of 55.49 million pounds.

The highest share price at that time was 33.62 pounds per share, while the lowest share price was 31.62 pounds per share.

This came after the Central Bank of Qatar proposed distributing cash dividends to shareholders for the past year, as a cash coupon worth 1.5 pounds would be allocated for each share.

According to the data, the Qatar Central Bank achieved total net profits amounting to 26.398 billion pounds during the period from January to December 2024, compared to 16.23 billion pounds in 2023.

The bank’s net income from interest, fees and commissions also witnessed a noticeable increase during the past year, reaching 46.71 billion pounds, compared to 34.83 billion pounds in the previous year.

As for the independent financial statements, the bank’s profits rose to 25.8 billion pounds over the past year, compared to 15.76 billion pounds in 2023.

The data also showed that the bank achieved profits amounting to 13.74 billion pounds during the first half of 2024 (from January to June), compared to 8.66 billion pounds in the same period in 2023.

The bank’s net income from interest, fees and commissions also increased during the first six months of last year to 22.41 billion pounds, compared to 15.86 billion pounds in the first half of the previous year.

At the level of independent business, the bank’s profits amounted to 13.3 billion pounds during the first half of last year, compared to 8.21 billion pounds in the same period of the previous year.