(MENAFN- The Peninsula) Commercial Bank, one of the leading full service banks in Qatar, has been awarded exclusive mandate to distribute dividends for Mesaieed Petrochemical Holding Company Q.S.C. (MPHC) to their shareholders. This award contract will be a period of five years commencing in 2017. Commercial Bank has been providing dividend distribution services to MPHC since the company went public in 2014.
MPHC, one of the region's premier diversified petrochemical conglomerates, was listed on the Qatar Stock Exchange in 2014 and started paying dividends from its first financial year in 2014.
MPHC is a Qatar Petroleum group company which holds most of Qatar Petroleum's interests in three well-established and highly profitable petrochemical companies.
The combination of these three successful operating ventures under MPHC creates a leading integrated producer and exporter of petrochemicals, with world-class production facilities in Qatar.
MPHC Managing Director, Khalid Al Subaey, said: 'Our new five-year contract with Commercial Bank builds on a successful strategic partnership and ensures, as a priority, timely delivery of dividend to MPHC shareholders. Commercial Bank has always proved efficient with capabilities that do not only meet our needs, but also contribute to creating exceptional shareholder experience.
Commercial Bank, EGM Government & Public Sector, Khalifa Al Rayes said: 'Commercial Bank is proud to be MPHC's dividend distribution partner for the past three years and to have earned the trust to recapture MPHC's dividend distribution mandate for the next five years. Our commitment is to innovate and provide quick turnaround times to assure an enhanced customer experience for MPHC's shareholders. Through providing dividend distribution services in line with international best practices, Commercial Bank has built strong relationships with leading listed companies in Qatar.
Commercial Bank's dividend distribution mechanics have been tailored to offer MPHC shareholders fast, efficient and accessible services. These services include the option of cash payments for dividends of less than QR 100,000, instant dividend credit to a Commercial Bank account or transfers to banks locally and worldwide. The distribution is supported by the Bank's extensive branch network, comprising 29 full service branches strategically located across Qatar, ensuring
MPHC shareholders can access their dividends quickly and conveniently. For MPHC shareholders using the Qatar Central Securities Depository direct credit service, Commercial Bank will credit their MPHC dividends instantly. If the Shareholder is a customer of the bank, he/she can call the Bank's dividend hotline for an auto-credit.
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