Mesaieed Petrochemical declares dividend of QR 0.35/share

11 Apr '14

2 min read

Mesaieed Petrochemical Holding Company, a subsidiary of Qatar Petroleum partially floated on the Qatar Exchange, and one of the region’s premier diversified petrochemical conglomerates with interests in the production, distribution and sale of olefins, polyolefins, alpha olefins and chlor-alkali products, announced its financial results for the four-month period ended December 31, 2013 with a net profit of QR 0.6 billion.

In comments issued to the Qatar Exchange after the group’s first Board of Directors meeting for 2014, H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Chairman of Mesaieed Petrochemical Holding Company, stated, “At the outset, and on behalf of the Board of Directors, I would like to thank His Highness the Emir, Sheikh Tamim Bin Hamad Al-Thani, for his generosity and support both before and throughout the IPO of Mesaieed Petrochemical Holding Company. It is due to His Highness’ support that we are able to announce these first published results of Mesaieed Petrochemical Holding Company, and declare a dividend.

“MPHC registered a net profit of QR 0.6 billion for the four-month period ended December 31, 2013, and the Board of Directors proposed a cash dividend of QR 0.4 billion, or QR 0.35 per share. This proposed dividend is equivalent to 72.1% of net profit.

“And, in line with the continuous support and directions from His Highness the Emir, Sheikh Tamim Bin Hamad Al-Thani, it was recommended that the shareholders as of the close of trading on the last trading day before the group’s first post-IPO annual general assembly meeting will be entitled to receive a dividend relating to the four-month period ended December 31, 2013 despite the fact that MPHC was only listed on February 26, 2014.”

Click here to view full results.

Mesaieed Petrochemical Holding Company

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