Qatar's Commercial Bank, Masraf Al Rayan drop as stocks trade ex-div

The Commercial Bank (P.S.Q.C.)

16/03/2023 08:02

March 16 (Reuters) -    ** Qatar's Commercial Bank
 COMB.QA  and Masraf Al Rayan  MARK.QA  dropped 4.2% and 4.1%,
respectively, as both stocks go ex-dividend
    ** Commercial Bank stock on track for its biggest intraday
fall since early Dec
    ** Commercial Bank declared full-year cash dividend of 0.25
riyals per share, an increase of 56.3% from the last year
    ** Masraf Al Rayan slashed full-year cash dividend by 41.2%
to 0.10 riyals a share from last year
    ** Session's losses wipe 825.5 million riyals from
Commercial Bank's market cap and 944.3 million riyals from
Masraf Al Rayan's market cap
    ** About 1.2 million shares of Commercial Bank change hands
on Thursday, about 50.5% of 30-day moving average of 2.3 million
shares
    ** Out of 7 analysts covering Commercial Bank, 6 rate it
"buy" higher and one rates it "hold"
    ** Out of 4 analysts covering Masraf Al Rayan, ​one rates it
"buy, ​​two rate it "hold" and one rates it "sell"
    ** Qatari benchmark index  .QSI  was trading 2% lower

 (Reporting by Mohd Edrees in Bengaluru)
 ((mohammad.edrees@thomsonreuters.com))