By: Eslam Salem
Doha – Mubasher: Qatar Electricity and Water Company’s (QEWC) shareholders approved on Sunday a proposal to distribute cash dividends at QAR 7.5 per share, for the fiscal year 2015.
During the company’s ordinary general meeting, shareholders also adopted the balance sheet and the profit and loss account for the fiscal year 2015.
QEWC’s annual profit declined 2% to QAR 1.5 billion in 2015, versus QAR 1.53 billion in 2014. Earnings per share also decreased to QAR 13.64 from QAR 13.91.
The Qatar-listed company’s deputy chairman, Issa Al Ghanim, said that better operating revenue effected positively on the company’s net profit last year, as it rose to QAR 2.98 billion from QAR 2.89 billion.
“The company is seeking to expand its investments inside Qatar and abroad,” Al Ghanim added.
The company’s share closed yesterday’s trading 1.98% higher to QAR 206.
Translated by: Elwy el-Manzalawy
