Mannai Corporation shareholders approve QR3.15 a share interim dividend

 Mannai Corporation (MC) shareholders have approved an interim dividend of QR3.15 a share, which entails an outgo of QR1.44mn.At its ordinary general assembly meeting held online on September 7, the shareholders approved the interim dividend, which will be funded entirely from the surplus cash realised from the sale of its subsidiary, after settling the related bank financing.The board proposed to distribute dividend to shareholders following the successful sale of the wholly-owned subsidiary, Inetum (formerly GFI Informatique). The sale generated €1.05mn in total cash proceeds, enabling the approved interim dividend as well as the repayment of all loans related to the acquisition.The sale also reduced the corporation’s total bank debt by QR4.04bn from QR8.07bn as on December 31, 2021 to QR4.03bn as on July 31, 2022."Since listing on the Qatar Stock Exchange 15 years ago, it has been Mannai Corporation’s stated policy that dividends are an important part of delivering value to our shareholders and investors. Over these 15 years, Mannai Corporation has so far paid QR2.23bn in dividends," said Sheikh Suhaim bin Abdulla al-Thani, its vice Chairman.Total dividends distributed by Mannai to its shareholders stands at QR3.63bn since listing in 2007.