Milaha will continue to develop its facilities and expand into new markets while accelerating its digital transformation to further contribute to Qatar’s supply chain connectivity, Milaha chairman Sheikh Jassim bin Hamad bin Jassim Jaber al-Thani said during the company’s Ordinary General Assembly Meeting held in Doha Sunday.
Sheikh Jassim said the move is part of Milaha’s 2020 outlook, adding that “the constant and continuous support from all official authorities in Qatar empowers Milaha to contribute to Qatar’s transition towards a diversified and sustainable economy in line with Qatar National Vision 2030.”
The meeting, which was presided over by Sheikh Jassim, approved the board’s proposal to distribute a cash dividend, 30% of the per share value, amounting to QR0.3 per share. Sheikh Jassim also presented an overview of the company’s activities and financial results for 2019 where Milaha reported a net profit of QR547mn and earnings per share worth QR0.48.
He said Milaha’s continuous development in 2019 was part of its long-term plan to enhance operations and accelerate internal and external growth.
On a commercial level, Milaha has expanded its capacity and services portfolio in many of its main business sectors, such as Milaha Maritime & Logistics and Milaha Offshore support, in addition to Milaha Gas and Petrochem, which witnessed an increase in its share in Nakilat by 6% during the year, which bolstered its success and position as one of the leading regional providers of maritime and logistics services, Sheikh Jassim said.
During the meeting, it was announced that dividend distribution will start Monday through all QNB branches. QNB will provide full support services to ensure shareholders can efficiently collect and manage their earned dividends.
Milaha was established in July 1957 as the first public shareholding company registered in Qatar and holds commercial registration No 1. Milaha’s current activities include marine transportation in gas, petroleum products, containers, and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.
The meeting, which was presided over by Sheikh Jassim, approved the board’s proposal to distribute a cash dividend, 30% of the per share value, amounting to QR0.3 per share. Sheikh Jassim also presented an overview of the company’s activities and financial results for 2019 where Milaha reported a net profit of QR547mn and earnings per share worth QR0.48.
He said Milaha’s continuous development in 2019 was part of its long-term plan to enhance operations and accelerate internal and external growth.
On a commercial level, Milaha has expanded its capacity and services portfolio in many of its main business sectors, such as Milaha Maritime & Logistics and Milaha Offshore support, in addition to Milaha Gas and Petrochem, which witnessed an increase in its share in Nakilat by 6% during the year, which bolstered its success and position as one of the leading regional providers of maritime and logistics services, Sheikh Jassim said.
During the meeting, it was announced that dividend distribution will start Monday through all QNB branches. QNB will provide full support services to ensure shareholders can efficiently collect and manage their earned dividends.
Milaha was established in July 1957 as the first public shareholding company registered in Qatar and holds commercial registration No 1. Milaha’s current activities include marine transportation in gas, petroleum products, containers, and bulk; offshore support services; port management and operations; logistics services; shipyard; trading agencies; real estate investments; and asset management.
