Qatar Navigation Approves Cash Dividend for the Year 2014, Payable Starts from March 24, 2015; Approves Amendments to its Articles of Association; Approves Board Appointments
March 19, 2015 at 04:56 pm EDT
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Qatar Navigation at its Ordinary General Assembly held on March 18, 2015, approved the cash dividend of 55% of the nominal share value (equivalent to QAR 5.50 per share) for the year 2014. Dividend distribution will commence starting March 24, 2015.
The general assembly approved the recommendation to amend articles in the company's Articles of Association to increase the company's foreign ownership limit up to 49%, as well as
amendments to Article 47 which relates to general assembly invitations to shareholders as per provisions in the amended article of the Commercial Companies Law.
The shareholders also approved the appointment of Mr. Salman Abdullah Abdulghani as members of the board. Reserve members include: HE Sheikh Suheem bin Abdulaziz bin Suheem Al Thani, and Mr. Mohammed Nasser Al Qahtani.
Qatar Navigation QPSC is a Qatar-based public shareholding maritime and logistics company, which provides integrated transport and supply chain solutions. The Company, along with its subsidiaries, is engaged primarily in marine transport, acting as agent to foreign shipping lines, offshore services, sale of heavy vehicles, ship repair, fabrication and installation of offshore structures, land transport, chartering of vessels, real estate, investment in listed and unlisted securities, trading of aggregates, building materials and the operation of a travel agency. It is organized into the following business segments: Milaha Capital, Milaha Maritime and Logistics, Milaha Offshore, Milaha Trading, Milaha Gas and Petrochem and Milaha Corporate. Its subsidiaries include: Qatar Shipping Co QSC, Halul Offshore Services Co WLL, Macgregor Qatar Navigation Co WLL, Peninsula LNG Transport No 2 Ltd and Iraq Qatar Transport and Shipping Services Co Ltd, among others.
Qatar Navigation Approves Cash Dividend for the Year 2014, Payable Starts from March 24, 2015; Approves Amendments to its Articles of Association; Approves Board Appointments
QATAR NAVIGATION Q.P.S.C. 
