Qatar Fuel (Woqod) has posted a net profit of QR1.15bn in 2012, which indicates a slight decline of 0.02% compared with QR1.18bn in 2011.
Woqod’s board of directors has recommended to the company general assembly to distribute cash dividends of QR519.75mn or 100% of the value of the paid up nominal capital, which translates into QR10 per share.
This is in addition to 25% bonus shares, which translates into four shares for 10 outstanding shares.
The company’s assets totalled QR8bn in 2012, up 15.7% on 2011, while total equity grew 14.3% to reach QR5.5bn last year.
The results were announced by Woqod vice-chairman and managing director Mohamed Turki al-Sobai after a meeting of the company’s board of directors here yesterday. Woqod chairman HE Abdullah bin Hamad al-Attiyah, also President of Administrative Control and Transparency Authority presided.
Despite the increase in capital base through issuance of 25% bonus shares in 2011, Woqod’s earnings per share (EPS) amounted to QR22.13 in 2012 compared with QR22.78 in 2011.
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