By: Eslam Salem

Doha – Mubasher: Shareholders at Zad Holding's ordinary general meeting (OGM) on Sunday approved the board of directors' recommendation to distribute a cash dividend amounting to QAR 4 per share and representing 40% of capital.

The OGM also approved the general budget, profit and loss account for the fiscal year ended 31 December 2015 as well as the corporate governance report and the auditor's report for 2016.

Zad Holding posted a net profit of QAR 160.32 million for FY15, a decline of 11.8% from QAR 181.47 million recorded in FY14.

Speaking before the OGM, managing director Nawaf Al Thani noted that despite the year-on-year decline in profits, Zad's overall operating performance was seen as good.

"We seek to raise the production capacity of our mills in 2016 to bring total production to 830 tonnes per day," he stated.

Translated by: Nada Adel Sobhi