Doha - Mubasher: Qatar Navigation’s (Milaha) ordinary general meeting (OGM) approved distributing 35% cash dividends with the share’s nominal value of QAR 3.5.

The shareholders agreed to distribute half of the cash dividends of 2015 at QAR 5 per share.

The company’s capital amounts to QAR 1.145 billion distributed over 114.5 million share with a nominal value of QAR 10 per share.

Milaha said in its statement to the Qatar Stock Exchange (QSE) on Thursday that the OGM endorsed the board and auditor’s reports on the company’s activities and financial position in 2016.

Company profits dropped in 2016 by over 35% to QAR 711.46 million compared to QAR 1.095 billion in 2015.
Milaha’s stock retreated 1.61% reaching QAR 79.20 by 09:35am Qatar time, achieving liquidity of QAR 2.2 million through the trading of 27,920 shares.