(MENAFN- Qatar News Agency) The annual general meeting of Nakilat, the shipping arm of Qatar's liquefied natural gas (LNG) sector, ratified the board's recommendation to distribute a cash dividend to the shareholders equal to 12.5 percent of the nominal value of its capital (equal to QR 1.25 per share).
The general meeting also discussed and ratified the governance report for the financial year ended December 31, 2015. The board of directors confirmed the company's continuity in reevaluating Nakilat's corporate governance code of ethics in order align best practices that will continue to fulfill the company's business requirements.
The board stressed that Nakilat will continue to deliver strong returns for its shareholders through the consistent implementation of its business strategy. The company strategy involves new business opportunities by acquiring new vessels that serve the international maritime industry. Nakilat is also continually assessing current investments in relation to profitability in order to address any risk involved for the company and its shareholders.
"We are happy with the company's achievements, despite the circumstances in the oil and gas sector," Nakilat Managing Director Eng. Abdullah Fadhalah Al Sulaiti said. "The company was successful in completing the world-first ME-GI project that has immense environmental benefits. The project includes the potential to increase mean time between maintenance, provide flexibility of fuel supply to react to market changes and reduce bunkering activities which in turn will offer operations and marine risk reduction." Al Sulaiti also highlighted Nakilat's technical efforts in assuming operations of its vessels to Nakilat Shipping Qatar Limited (NSQL), a wholly-owned subsidiary of Nakilat.
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