The General Assembly of Gulf Warehousing approves the distribution of cash dividends of 10% of the nominal value of the share (0.10 QR per share)

Gulf Warehousing Company (GWC), the leading provider of logistics services in Qatar, held its Ordinary and Extraordinary General Assembly Meeting on February 16, 2022 and approved the Group’s financial results for the year ending in 2021.
The meeting, which was held at the company’s headquarters, chaired by Sheikh Abdullah bin Fahd bin Jassim bin Jabr Al Thani, Chairman of the Board of Directors, and was attended by representatives of the Ministry of Commerce and Industry, the external auditors of GWC, Ernst & Young, the company’s shareholders, and some media representatives.
The General Assembly approved all items on its agenda, including the Board of Directors’ proposal to distribute cash dividends of 10% of the nominal value of the share (0.10 QR per share).
In addition, the general assembly meeting included a comprehensive review of the group’s compliance with corporate governance rules, and the assembly discharged the members of the company’s board of directors of any potential liability, while determining the appropriate remuneration for the board of directors.
The General Assembly also discussed and approved the Group’s balance sheet, and assigned a new external auditor and set his fees.
For the company’s Extraordinary General Assembly meeting, the company submitted amendments to the articles of its articles of association in order to comply with the Commercial Companies Law No. (8) of 2021.
On this occasion, Sheikh Abdullah bin Fahd bin Jassim bin Jabor Al Thani, Chairman of the Board of Directors, said: “We are proud of GWC’s ability to achieve flexibility in managing its business and commit to its vision despite the challenges and obstacles of the year 2021. It is also commendable that the work What GWC is doing, and the partnerships that are being strengthened, all contribute to the realization of the Qatar National Vision 2030.”
GWC achieved many milestones in 2021 and worked to support the local community and ensure the smooth delivery of goods. Among these initiatives are ensuring the supply and delivery of COVID-19 vaccines to the State of Qatar, providing world-class logistics services for the Arab Cup, signing an agreement with Gaussin and Jam Qatar to test Gaussin environmentally friendly locomotives, and automation solutions for yards in many GWC logistics warehouses, including the Al Wukair GWC Logistics area.
The company also organized a “Be part of the event” forum that provides a platform for experts from various fields to discuss issues related to logistics that support mega events, as well as discuss regional trends and shifts in the logistics sector.
Committed to supporting research and development efforts in the logistics field, GWC has entered into a Memorandum of Understanding with the College of Science and Engineering at Hamad Bin Khalifa University with a particular focus on logistics and supply chain management.
As the regional supporter and official logistics provider for the FIFA World Cup Qatar 2022TM, GWC is gearing up to provide seamless logistical services for the first time ever for this mega sporting event.
In this regard, Mr. Ranjeev Menon, Group CEO, commented: “Through our various projects and partnerships, we have been able to maintain our commitment to supporting SMEs, providing innovative and customized solutions to meet the requirements of our clients from various sectors and providing effective support to them, thus strengthening our position as a leading company in the field of logistics.
The group achieved a net profit of QR 225 million compared to 2020, where the net profit amounted to QR 235.7 million. Accordingly, it achieved earnings per share equivalent to 0.38 Qatari riyals in 2021 compared to 0.40 Qatari riyals in 2020.