S'hail Shipping's Chairman and Managing Director Mohamed Khalifa Al Sada and other officials during the AGM.
Doha: S’hail Shipping has declared 15 percent cash dividend during its 5th Annual General Meeting at Sultan Beach Resort in Al Khor on February 21. During the AGM, the Chairman and Managing Director, Mohamed Khalifa Al Sada reported that the company is now five years old and despite facing four of these five years in trade embargo and the last two years in the painful global pandemic, the company has consistently performed and declared cash dividends every year.
Al Sada added that the company completed more than 200 voyages carrying over 12 million MT of dry bulk cargo like coal, rock phosphate, gabbro, soyabean, maize, iron ore, chrome ore, cement clinker, salt, bauxite, wheat, corn, manganese ore, fertilizer, and other minerals across ports in Australia, Asia, Africa, Europe, South America, and North America. Considering record profit generated by the company in FY 2021, upon Al Sada’s proposal at the AGM, 15 percent cash dividend was declared for its over 350 Qatari shareholders.
This Company gives a unique opportunity to the local Qatari investors to take exposure in non-oil and gas sector. The company is now well connected to a global shipping market of about 5 billion tonnes per year of dry bulk cargo and thus the company has enormous opportunity to grow.
Meanwhile, at the AGM, an election was held for a new three year term of its Board Members. The seven elected Board Members at the AGM are Mohamed Khalifa Al Sada (Chairman and Managing Director), Jaber Ali Al Mohannadi (Vice-Chairman), Mohamed Khamis Al Shahwani, Rashid Jassim Al Mohannadi, Hussain Mohammed Al Fadala, Ali Hussain Al Sada and Sultan Zaher Al Muraiki.
