Qatar Shipping Company (QShip) profits for 2007 stood at QR621.366 million ($171 million) as against QR458.59 million in 2006.

The board of directors of the company approved the financial statements for the year 2007 at a meeting held last week, a report in Peninsula newspaper said.  

The board has decided to hold the ordinary and extraordinary general assembly of shareholders on March 25 at Ritz Carlton Hotel and to recommend to the assembly distribution of 35 per cent cash dividends (QR3.5 per share) for 2007 in addition to 10 per cent bonus shares to shareholders (1 share each for every ten shares held) subject to approval of competent authorities.