GWC AGM Approves cash dividends at QAR 0.11 per share
Shaikh Mohammed Bin Hamad Bin Jassem Bin Jaber Al Thani elected GWC Chairman
Gulf Warehousing Company (GWC) recently held its Annual General Meeting (AGM) in Doha, Qatar. The meeting was Chaired by Sheikh Abdullah Bin Fahad Bin Jassem Bin Jaber Al Thani and attended by representatives of the Ministry of Commerce and Industry, GWC’s external auditors Ernst & Young, and the company’s shareholders.
The General Assembly ratified all the items on its agenda including the approval of cash dividends to shareholders of 11% of the nominal value of the company’s shares, which is 0.11 Qatari Riyals per share.
The assembly also approved to release the board members from liability and distribute rewards to each member based on the evaluation of the board committees. Furthermore, the AGM presented a comprehensive review of the Group’s compliance with the Corporate Governance Code.
The company’s new board of directors, as elected by the general assembly, now constitutes the following members: Sheikh Mohammed Bin Hamad Bin Jassim Bin Jabor Al Thani, Chairman; Sheikh Fahad Bin Hamad Bin Jassim Bin Jaber Al Thani, Vice Chairman; Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani, Member; Ahmed Mubarak Al Maadid, Member; Mohammed Hassan Rafi’ Al Emadi, Member; Hanadi Anwar Al Saleh, Member; Sultan Yousif Khater Al Sulaiti, Member; Mohammed Abdulmonim Al Sayed, Member; and Abdulaziz Mohammed Jaber Al Sulaiti, Member.
The company achieved net profits of QAR 215mn for the year ended 2023, and total revenues of QAR 1.5bn. The total operating profit reached QAR 323mn with an Asset base of QAR 5.2bn. The EPS for the year ending 2023 recorded was QAR 0.367.