Doha – Mubasher: Qatar Navigation witnessed losses in the fourth quarter of 2016, according to a statement.

The company suffered losses of QAR 47.54 million ($13.05 million) in Q4-16, against profits of QAR 135.53 million ($37.2 million) in Q4-15.

Profits reached QAR 711.46 million in 2016, down 35.3% from QAR 1.095 billion in 2015.

The company’s board recommended 35% cash dividends, or QAR 3.5 per share, for fiscal year 2016.

The shareholders’ general meeting will be held on Wednesday, 15 March, to discuss dividends.