Doha: Edaa has announced achieving the highest rate of cash dividend transfers to shareholders in the history of the Qatar Stock Exchange. This milestone follows the implementation of new dividend distribution regulations in the financial markets, designating Edaa as the entity responsible for distributing dividends on behalf of companies listed on the Qatar Stock Exchange.

HE Sheikh Saif bin Abdullah Al-Thani, CEO of Edaa, stated, “Edaa has successfully achieved the highest dividend distribution rate to shareholders in the history of the Qatar Stock Exchange, reaching 96 percent by the end of May 2024, with the cash dividends for the previous year amounting to QR 26.6 billion.” The CEO also noted that the remaining cash dividends will be immediately transferred to the accounts of shareholders who have updated their information. He praised the collaboration witnessed in the cash dividend distribution project between Edaa, Qatari banks, and listed companies, highlighting that 52 companies signed agreements wi
th Edaa for dividend distribution.

Edaa successfully transferred the cash dividends directly to shareholders’ bank accounts.

To ensure the success of the direct cash dividend transfer project for Qatar Stock Exchange shareholders via Edaa, the company signed joint agreements with six major banks. These agreements were based on key criteria, including IT standards, financial standards, and shareholder management standards. The agreements aimed to ensure the readiness of banking systems for direct transfers, banking settlements, and shareholder data updates.

Edaa also organized a seminar to discuss the mechanisms of the cash dividend distribution project with companies listed on the Qatar Stock Exchange. The seminar was attended by representatives of all listed companies.

Additionally, advertising and promotional campaigns were launched to guide shareholders on how to update their information. Edaa also established a temporary branch at Mall of Qatar to facilitate the process of updating shareholder data. M
oreover, Edaa integrated its system with the cash distribution systems of the participating banks.

Edaa introduced a new service for shareholders to facilitate the updating of their bank information. More than 20,000 shareholders have benefited from this service, which is available on the company’s continuously updated website. Work is currently underway to add these services to the Edaa app and to enhance the services provided through it, in line with the companys plan to offer the best services to its users and clients.

Source: Qatar News Agency