DOHA: Qatar Fuel (Woqod) has posted record net profits in 2010 and said it proposed to recommend distribution of 100 percent (QR10 per share) cash dividend and 20 percent stock dividend (bonus shares) to its shareholders.
The net profits of the company soared to an all-time high of QR1.07bn in 2010, up from QR870m in 2009 -- the growth being 23.5 percent.
Earnings per share (EPS) for the year under review reached a record QR31, up from QR25.57 in 2009.
A press statement issued by the company said yesterday that its board of directors held a meeting chaired by the chairman and Deputy Premier and Chief of Emiri Diwan, H E Abdullah bin Hamad Al Attiyah, on Tuesday and discussed the financial statement of the company.
The financials were approved by the board and it has been decided to recommend to the annual general meeting of the shareholders to distribute cash dividend to the tune of QR346.5m and 20 percent bonus shares (one bonus share for every five shares held).
The board has also decided to increase the maximum limit of share holding to 13,860, from the earlier 11,550.
The company plans to hold the AGM on March 16, 2011, its managing director, Mohamed Turki Al Sobai, said.
© The Peninsula 2011
