Qatar Navigation (Milaha) held its annual general assembly meeting virtually on Sunday at the company’s headquarters during which shareholders approved the board of directors report detailing the company’s activities and its financial statements for 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 percent of the nominal share value, equivalent to QR0.3 per share. The general assembly also approved assigning ‘PricewaterhouseCoopers’ as auditors for the year 2022.
Addressing the meeting, Milaha Chairman Sheikh Jassim bin Hamad bin Jassim Jaber Al Thani presented an overview of the company’s activities and consolidated financial results as Milaha reported a net profit of QR724 million in 2021, compared to QR59 million in 2020.
In his speech, the chairman 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.
“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,” he said.
Dividend distribution will commence on 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.