Zad Holding Net Profit Up 7.6% to QR 213.48 Million in 2018, Recommends 85% Cash Dividend

March 31, 2019

Zad Holding Co. disclosed its financial statements for the period ended on 31/12/2018. The statements show a net profit of QR 213.48 million, compared to QR 198.30 million for the same period of the previous year.

The company’s earnings per share amounted to QR 9.01 for the period ended 31/12/2018, versus QR 8.37 for the corresponding period of 2017.

The Board decided to recommend the AGM to distribute 85% of the nominal value as cash dividends for the financial year 2018, and recommend the EGM to make the required amendments to the company’s Articles of Association in compliance with the circulars of QFMA to increase the shareholding limit of non-Qatari investors in the company to up to 49% of the share capital.

The Board has also recommended the EGM to make the required amendments to the company’s Articles of Association to be in compliance with the circulars of QFMA regarding the adjustment of the nominal value of the company share to become QR 1 (One Qatari Riyal) per share. As well as modify Article 69 of the Articles of Association concerning Zakat.

Zad Holding’s Board also recommended to EGM to delegate the Board to make the required changes and carry out the process to amend the company’s Articles of Association according to the above.