Qatar Navigation Q.P.S.C. (“Milaha”) held its Annual General Assembly Meeting virtually, today, at the Company’s headquarters, during which Shareholders approved the Board of Directors report detailing the company’s activities and its financial statements for the year ended December 31, 2021.
The General Assembly Meeting ratified all items on its agenda including the proposal of the Board of Directors to distribute a cash dividend of 30% of the nominal share value, equivalent to QR 0.3 per share. The General Assembly also approved assigning “PricewaterhouseCoopers” as Auditors for the year 2022.
Addressing the meeting, H.E 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 consolidated financial results, as Milaha reported a net profit of QR 724 million in 2021, compared to QR 59 million in 2020.
In his speech, H.E the Chairman of the Board of Directors commended Milaha’s strength and resilience in response to the continued challenges affecting the global shipping industry and supply chain for the past two years, as the company continued to deliver operational excellence, strengthen its core activities, develop expansion plans and increase asset efficiency, with a focus on completing its fast-paced digital transformation, providing value-added services and solutions to customers, and ensuring the health and safety of its employees.
Dividend distribution will commence on Tuesday March 8, 2022, through all Qatar National Bank (QNB) branches. QNB will provide full support services to ensure Shareholders can efficiently collect and manage their earned dividends.