Qatar Shares Decline Most in More Than a Month on QNB Dividend - Businessweek

Qatar’s benchmark stock index dropped the most in more than a month as investors were disappointed with Qatar National Bank SAQ’s dividend plan.

Qatar National, the Gulf country’s biggest bank by assets, headed for the biggest decline in almost a year. Commercial Bank of Qatar QSC, the nation’s second-biggest lender, decreased 1.2 percent. Qatar’s QE Index slumped 1.5 percent, the most since Nov. 21, to 8,679.63, at 10:18 a.m. in Doha. The Bloomberg GCC 200 Index slipped 0.2 percent.

“Apparently the dividend disappointed some investors, which tells you how high expectations are in Qatar with regard to dividend payouts, which have been historically very high,” said Ahmed Talhaoui, the Abu Dhabi-based head of investment and asset management at Royal Capital PJSC. The results were otherwise “strong,” he said.

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