Qatar: Edaa successfully manages distribution of $7.30bln to shareholders

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Doha, Qatar: Edaa has announced achieving the highest rate of cash dividend transfers to shareholders in the history of the Qatar Stock Exchange. This milestone follows the implementation of new dividend distribution regulations in the financial markets, designating Edaa as the entity responsible for distributing dividends on behalf of companies listed on the Qatar Stock Exchange.

Sheikh Saif bin Abdullah Al Thani, CEO of Edaa, stated, “Edaa has successfully achieved the highest dividend distribution rate to shareholders in the history of the Qatar Stock Exchange, reaching 96% by the end of May 2024, with the cash dividends for the previous year amounting to QR26.6bn.”

The CEO also noted that the remaining cash dividends will be immediately transferred to the accounts of shareholders who have updated their information. He praised the collaboration witnessed in the cash dividend distribution project between Edaa, Qatari banks, and listed companies, highlighting that 52 companies signed agreements with Edaa for dividend distribution.

Edaa successfully transferred the cash dividends directly to shareholders’ bank accounts.

To ensure the success of the direct cash dividend transfer project for Qatar Stock Exchange shareholders via Edaa, the company signed joint agreements with six major banks.

These agreements were based on key criteria, including IT standards, financial standards, and shareholder management standards. The agreements aimed to ensure the readiness of banking systems for direct transfers, banking settlements, and shareholder data updates.