MPHC reports QR1.8bn 2014 net profit; suggests 11% cash dividend

Mesaieed Petrochemical Holding Company (MPHC) - an umbrella entity for Q Chem, Q Chem II and Qatar Vinyl Company (QVC) - has reported net profit of QR1.8bn in 2014 and suggested 11% dividend to shareholders.The proposed QR1.1 cash dividend is equivalent to 77% of the group’s profits.QVC registered full-year revenue of QR0.8bn. Results for 2014 were impacted by planned shut-downs of the company’s EDC (ethylene dichloride), VCM (vinyl chloride monomer) and caustic soda facilities, principally during the first half of the year.(Gulf Times had erroneously mentioned 11% cash dividend as 110% and EDC as endocrine disruptive chemicals on February 2 edition).