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Qatar - MPHC Declares Net Profit of QR 0.6 Billion  Join our daily free Newsletter

MENAFN - Qatar News Agency - 17/03/2014
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(MENAFN - Qatar News Agency) Mesaieed Petrochemical Holding Company (MPHC) announced its financial results for the four-month period ended December 31, 2013 with a net profit of QR 0.6 billion.



In comments issued after the group's first Board of Directors meeting for 2014, HE Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, MPHC Chairman, stated, "At the outset, and on behalf of the Board of Directors, I would like to thank HH the Emir Sheikh Tamim Bin Hamad Al-Thani, for his generosity and support both before and throughout the IPO of Mesaieed Petrochemical Holding Compan



It is due to His Highness' support that we are able to announce these first published results of Mesaieed Petrochemical Holding Company, and declare a dividend. "MPHC registered a net profit of QR 0.6 billion for the four-month period ended December 31, 2013, and the Board of Directors proposed a cash dividend of QR 0.4 billion, or QR 0.35 per shar



This proposed dividend is equivalent to 72.1% of net profi



And, in line with the continuous support and directions from HH the Emir Sheikh Tamim Bin Hamad Al-Thani, it was recommended that the shareholders as of the close of trading on the last trading day before the group's first post-IPO annual general assembly meeting will be entitled to receive a dividend relating to the four-month period ended December 31, 2013 despite the fact that MPHC was only listed on February 26, 2014." HE Dr. Al-Sada, said, "The close of this first financial period marks the beginning of a new era for MPHC and the State of Qata



The Board of Directors and senior management look forward to the future with confidence in the sound competitive advantages of the group and strong government suppor

 


Qatar News Agency




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