By Islam Salem
Doha-Mubasher: Mesaieed Petrochemical Holding said its general meeting on Wednesday gave the green light for the distribution of cash dividends at 7% of capital, or QAR 0.70 a share.
Shareholders also endorsed balance sheet and profit/loss statement for 2015, in addition to appointing an auditor for 2016.
FY15 earnings grew 1% to QAR 1.09 billion, compared with QAR 1.08 billion a year earlier.
Chairman Ahmed Al-Sulaiti said the company's financial performance was impacted by out-of-control factors as product prices declined remarkably amid the deterioration in oil prices since almost one and a half years.
Oil prices dropped by 70% to $30 a barrel in January - its lowest since June 2014 – on oversupply and weak demand.
Translated by Abdul Maguid Aboshahla
