Qatar Electricity and Water Company gains despite lower net profit
The QE 20 Index climbed 0.52 per cent to 11,192.21 points on Thursday, February 6. Qatar Electricity and Water (QEW) Company added 0.33 per cent, finishing at QAR181.60. Earlier in the day, QEW disclosed the financial statements for the year, ending December 31, 2013. The financials revealed a net profit of QAR1.38 billion in 2013 versus QAR1.43bn in 2012 and the earnings per share amounted to QAR13.84 in 2013, compared with QAR14.32 in 2012. The company also recommended profits distributing cash dividends of 75 per cent from the share par value – QAR7 and half for each share and bonus share ten per cent of the capital, ie one share for each ten shares.