Qatar Navigation General Assembly approved the distribution of 0.30 riyals per share of cash dividends and the items on the agenda

17-03-2021


Qatar Navigation announced the results of the ordinary general assembly meeting that was held on 16/03/2021, where the following was approved:
The meeting agenda and the company's audited financial results for the year ending December 31, 2020.
The general assembly also approved the recommendation of the Board of Directors to distribute cash dividends of 30% of the nominal value of the share, equivalent to 0.3 Qatari riyals per share, to be on a par with the distribution for the year 2019. In addition, the general assembly approved the appointment of "PricewaterhouseCoopers" as an external financial auditor for the year 2021.
His Excellency Sheikh Jassim bin Hamad bin Jassim Jaber Al Thani, Chairman of Milaha’s Board of Directors, presented during the meeting that was held virtually, a summary of the company's activities and details of its financial results, as Milaha’s net profit reached 59 million Qatari riyals in the year 2020.
In his speech, His Excellency the Chairman of the Board of Directors touched on the operational challenges that the company faced due to the repercussions of the Corona pandemic and its impact on global markets, praising the company's ability to adapt to difficult market conditions.
The dividend distribution process will start on Wednesday, March 17, 2021, through all branches of Qatar National Bank (QNB), which will provide shareholders with all necessary services to ensure that they obtain their due profits or invest them in the best way possible.
At the end of its meeting, the General Assembly elected the following members of the board of directors for a period of three years from 2021 to 2023: Sheikh / Jassim bin Hamad bin Jassim Al Thani - not independent, Sheikh / Khalid bin Khalifa bin Jassim Fahd Al Thani, representing Qatar Petroleum - Not independent, Sheikh / Abdulrahman bin Saud Al Thani - independent, Sheikh / Suhaim bin Khalid bin Hamad bin Abdullah Al Thani - independent, Sheikh / Hamad bin Muhammad bin Khalid Al-Thani - independent, Mr. / Adel Ali bin Ali, representing Ali Bin Ali for General Trading and Contracting - not independent, Mr. Saad Muhammad Saad Al-Rumaihi - independent, Mr. Hamad bin Muhammad Al-Manea - non-independent, Dr. Mazen Jassem Muhammad Al-Jaida - independent, Mr. Hatmi Ali Khalifa Al-Hitmi, representing Ali bin Khalifa Al-Hitmi and his partners - Member of the Board of Directors - not independent, Mr. / Muhammad Ibrahim Al-Sulaiti – independent. And as reserve members: Mr. / Ali Hussain Al-Sada - Independent, Messrs / Bozwair Real Estate Company represented by Mr. / Fahd Muhammad Fahad Saad Buzwair - Independent, Mr. / Ismail Ali Al-Emadi - Independent. The elected Board of Directors appointed His Excellency Sheikh Jassim bin Hamad bin Jassim Al Thani as its Chairman, and His Excellency Sheikh Khalid bin Khalifa Al Thani as Vice President.


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