Since 2009, Nakilat is committed to reward its shareholders with a continuous cash dividend distribution and to expand simultaneously its LNG shipping portfolio with assets that have a very long technical and economic life.
As per the company’s Articles of Association, article (67):
The net profits shall be distributed as follows:
- 10% of the net profits shall be deducted annually and allocated for the Legal Reserve. Such deduction may cease if the Reserve reaches 50% of the paid capital. If the Legal Reserve drops off the said percentage, the re-deduction shall be iterated until it reaches that percentage. The Legal Reserve shall not be distributed among the shareholders. However, the amount of the legal reserve exceeding 50% more than the paid capital, shall be used to distribute among the shareholders profits up to 5% in years when the company profits are not sufficient to cover this limit.
- The General Assembly may, upon a proposal by the Board of Directors, decide the deduction of a part of the net profits for the Optional Reserve. Such reserve may be used as decided by the General Assembly.
- Amount necessary to distribute the first share of dividends of at least (5%) of the paid amount of the stock of the shareholders shall be deducted. If ,in any year, the company profits do not allow the distribution of such share of dividends, it may not be claimed from the profits of the following years.
- After that, 5% at most of the balance net profit – after deducting reserves, legal deductions and profits distributed as per the above paragraph – shall be allocated for the remuneration of the Board of Director members.
- Part of the profits shall be allocated to fulfill the company’s obligations arising out of the Labor Laws.
Therefore the remaining balance of profits shall be distributed to the shareholders as an additional share of profits, transferred based on a proposal by the Board of Directors to the next year or allocated for creating a reserve or consumption money other than the normal ones.
As per the company’s Articles of Association, article (68):
Dividends shall be paid to the shareholders in the time and place determined by the board of directors or as per the requirements applicable by Qatar Financial Markets Authority if it is so required to be applied.