GIS unaffected by lower oil prices
The Board of Directors of Gulf International Services has recommended a cash dividend distribution for the financial period ended December 31st, 2014 of QR 1022.12 million, which is equivalent to QR 5.5 per share, representing a growth percentage of 243.7% compared to the previous distribution amount of QR 297.34 million.
Full disclosure of the financial statements of the aforementioned financial period will be provided as soon as the financials have been consolidated and the audit process is completed.
It is worth mentioning that these dividends were recommended based on the liquidity available to the group companies taking into consideration last year’s increase in the number of shares due to the distribution of 25% as bonus shares, and the group business not being affected by the decrease in oil prices since the company’s activities are based on fixed rates in the contracts averaging 3 to 5 years.
Source: Gulf International Services