Commercial Bank Qatar Falls Most in Week as Net Misses Estimates
Commercial Bank of Qatar (CBQK) dropped the most in a week after fourth-quarter at the Persian Gulf country’s second-biggest lender missed analysts’ estimates and as it plans to pay a lower dividend than last year.
The shares fell 2 percent, the most since Jan. 19, to 80 riyals at 9:50 a.m. in Doha.
Net income climbed to 376 million riyals ($103 million) from 308.8 million riyals a year earlier. The median estimate of four analysts was for a profit of 445 million riyals, according to data compiled by Bloomberg.
The bank plans to pay a dividend of 6 riyals a share for 2011. It paid 7 riyals last year.
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