Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) held its Ordinary and Extraordinary General Assembly meetings yesterday chaired by Vodafone Qatar’s Chairman H.E. Abdulla Bin Nasser Al Misnad.
The outcome of the Ordinary General Assembly meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 10 percent of the nominal share value, i.e. QR0.10 per share.
The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2022. The Shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2022 and the external auditor’s reports on the Company’s Corporate Governance and Internal Controls over Financial Reporting. It was also approved unanimously that KPMG be re-appointed the Company’s auditors for the financial year 2023, in addition to approving their fees.
The shareholders approved the consolidated financial statements of the Company for the financial year ended 31 December 2022 and the Corporate Governance Report of the Company for 2022. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.
Addressing the shareholders, Abdulla Bin Nasser Al Misnad said, “From the outset, 2022 promised to be an eventful year for both Vodafone Qatar and the country as a whole. Vodafone Qatar continued to support key events in Qatar and deepen important partnerships within the local business and community spheres, all whilst further embedding its new brand positioning – Together We Can – into its operations and communications with stakeholders at all levels through adapting to advanced technologies and empowering the human capability to use innovative solutions.”
He added, “In 2022, the Company reported an annual Net profit of QR502m, a 53.4 percent increase compared to the previous year. Total revenue for the year increased 21.4 percent year-on-year to reach QR3.1bn due to continued growth across all business segments including Prepaid, Postpaid, Fixed broadband services (GigaHome), Managed services, Internet of Things (IoT) and others. EBITDA increased to QR1.2bn reflecting strong growth of 19.7 percent compared to last year.”
The outcome of the Extraordinary General Assembly Meeting, subject to obtaining all relevant regulatory approvals, was the approval of the proposed changes to Article 3 of the Company’s Articles of Association.
Finally, the Shareholders authorised the Chairman of the Board and/or the Vice Chairman to sign the amended Articles of Association and to complete the required formalities in this regard, provided that the Chairman of the Board and/or the Vice Chairman shall be entitled to delegate this right to any member of the Board and/ or the CEO of the Company.
Source: https://thepeninsulaqatar.com/article/21/02/2023/vodafone-qatar-approves-cash-dividend-of-10-at-agm