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Woqod’s OGM nods to QAR 795m dividends for 2018

Woqod’s OGM nods to QAR 795m dividends for 2018
Woqod’s EGM approved the split of the share’s nominal value to QAR 1
Woqod
QFLS
0.20% 20.06 0.04

Mubasher: Qatar Fuel (Woqod) announced that its shareholders had approved distributing a cash dividend of 80% of the share’s nominal value, or QAR 8 per share, with a total value of QAR 795.4 million ($220.2 million) for 2018 during an ordinary general meeting (OGM).

Woqod’s extraordinary general meeting (EGM) approved the split of the share’s nominal value to QAR 1 from QAR 10, in line with Qatar Financial Markets Authority’s (QFMA) regulations, according to the Qatari firm’s statement.

During the full-year 2018, the Qatari firm’s profits grew 20.3% to QAR 1.16 billion from QAR 964 million in the prior year.

Woqod’s stock fell 1.04% to close QAR 190 on Tuesday.