Doha: United Development Company (UDC) announced that it achieved a net profit of QR 426 million for 2024, compared to a net profit of QR 402 million for 2023, representing an increase of 6 percent in profits.
According to Qatar News Agency, in a statement published on the Qatar Stock Exchange (QSE) website on Sunday, the company said that earnings per share during 2024 reached QR 0.120, compared to earnings per share of QR 0.114 in 2023.
The statement indicated that the company’s board of directors recommended to its general assembly to distribute the equivalent of QR 194,747,000 to shareholders at a rate of 5.5 percent of the nominal value per share, amounting to 5.5 Qatari Dirhams per share.
United Development Company was established in 1999 and listed on the QSE in 2003. The company has an authorized capital of QR 3.5 billion and total assets of QR 19.5 billion.