|01-11-2015, 02:10 PM||#1|
Qatar: shares at lowest in almost a month weighed by Industries Qatar
Qatar shares plummeted to lowest level in almost a month in early trade pulled down by Industries Qatar (QSE) after that the company offered a much lower dividend for 2014 trailing expectations.
At 11:55 am in Doha the QE Index (DSM) plunged by 2.2 percent to 12,032.81; representing the first slide witnessed in three trading sessions.
As for Industries Qatar, it retreated by 10 percent; the harsh drop of the share in almost nine years.
Industries Qatar plays a major role in Doha stock exchange as it has the second-biggest weight on Doha`s benchmark index.
The stock`s significant drop was mainly triggered by investor`s expectations as they predicted a higher cash dividend than the one that has been announced by Industries Qatar.
The impact of the dividend could still expand throughout the week on Qatar shares.
The dividend cut that Doha bourse reported was announced last Thursday by Industries Qatar board which recommended a 2014 dividend of 7 riyal per share; down from 11 riyals in 2013 and below the market projections of 11.13 riyals.
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