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Read more informationThe Financial Markets Authority of Qatar issues New Dividend Distribution Rules
The Financial Markets Authority of Qatar has unveiled new rules governing dividend distribution, set to be effective in 2024. The objective behind these regulations is to stimulate financial sector activity and amplify liquidity volume in the market. The forthcoming rules encompass significant alterations to the mechanisms governing the annual distribution of dividends to shareholders in public shareholding companies listed on the Qatar Stock Exchange. They will also exert control over any interim dividend distributions that companies may contemplate.
According to the new rules, public shareholding companies listed on the Qatar Stock Exchange will retain the flexibility to engage in interim dividend distribution every three or six months, or annually, as they currently do. However, there will be a stipulated timeframe within which companies must distribute dividends. A notable change is that public shareholding companies will no longer be permitted to directly distribute dividends and bonus shares to their shareholders. Instead, this role will be assumed by the Securities Depository Centre Co or Edaa.
These entities will be responsible for facilitating dividend distribution on behalf of public shareholding companies. The overarching goals of these regulations are to streamline distribution procedures, safeguard shareholders' dividends through a reliable intermediary, standardize distribution procedures, and expedite the overall distribution process to beneficiaries.