Milaha will continue to develop its facilities and expand into new markets in 2020. The company will accelerate its digital transformation to further contribute to Qatar’s supply chain connectivity, Sheikh Jassim bin Hamad bin Jassim Jaber Al Thani, Chairman of Milaha’s Board of Directors said yesterday.
Addressing Milaha’s Ordinary General Assembly Meeting yesterday, Sheikh Jassim added that the continuous support from all official authorities in Qatar has helped Milaha contribute to Qatar’s transition towards a diversified and sustainable economy, in line with Qatar National Vision 2030.
On Milaha’s 2019 performance, Sheikh Jassim noted that company went ahead with its development plans as part of its long-term plan to enhance its operations and accelerate its internal and external growth. On a commercial level, Milaha has expanded its capacity and services portfolio in many of its main business sectors. This included Milaha Maritime & Logistics and Milaha Offshore support, in addition to Milaha Gas and Petrochem, which witnessed an increase in Milaha’s share in Nakilat by 6 percent during the year. This helped Milaha to maintain its position as one of the leading regional providers of maritime and logistics services.
Milaha’s net profit for 2019 was QR547m and Earnings per share stood at QR0.48.
The General Assembly ratified all items on its agenda, including the proposal by the Board of Directors to distribute a cash dividend, 30 percent of the par share value, amounting to QR0.3 per share. The General Assembly also approved the appointment of KPMG as External Auditors for the year 2020.
Dividend distribution will commence on Monday, March 23rd through all Qatar National Bank (QNB) branches. QNB will provide full support services to ensure shareholders can efficiently collect and manage their earned dividends.