Sheikh Jassim bin Hamad bin Jassim Jaber Al Thani, Chairman of the Board of Directors of Milaha, and other board members at the Company’s Annual General Assembly meeting held at Four Seasons Hotel Doha yesterday.
DOHA: The Chairman of the Board of Directors of Qatar Navigation (Milaha) presented the Company’s business and growth outlook for the year 2019 to its shareholders and noted that Milaha will continue to build on its strong position as a partner-of-choice in the maritime and logistics sector in Qatar.
The Company also announced its plans to simultaneously expanding beyond the region into other new, high-growth markets for the interest of its shareholders.
Milaha held its Ordinary and Extraordinary General Assembly meeting yesterday, during which shareholders approved all the items on the agenda of the meeting, including the proposal by the Board of Directors to distribute a cash dividend, 30 percent of par value (QR3 per share) and the company’s audited financial results for the year ending December 31, 2018.
The General Assembly also approved the appointment of KPMG as external auditors for the year 2019. During the General Assembly meeting, Sheikh Jassim bin Hamad bin Jassim Jaber Al Thani, Chairman of Milaha’s Board of Directors, presented an overview of the company’s activities and financial results for 2018. Milaha’s net profit for 2018 was QR516m compared to QR470m reported the previous year. Earnings per share stood at QR4.54 compared to QR4.14 last year.
Chairman of Milaha highlighted the company’s successes, adding: “Last year Milaha witnessed significant achievements, as we demonstrated our firm commitment to enhancing shareholder value and offering top-notch maritime and logistics services, thus contributing to the achievement of a diversified and sustainable economy in line with Qatar National Vision 2030.”
The Extraordinary Assembly, approved the split of the par value of the ordinary share to be QR1 instead of QR10, amend the Articles of Association and to delegate to the Chairman or whomever he may designate to act on his behalf in this regard, the authority to sign the amended Articles of Association and to authenticate them before the relevant authorities.
Dividend distribution will commence on March 19, 2019 (today) through all QNB branches. QNB will provide full support services to ensure shareholders can efficiently collect and manage their earned dividends.
