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Major Omani firms announce dividends

Business Saturday 28/January/2017 16:54 PM
By: Times News Service
Major Omani firms announce dividends

Muscat: Major listed companies on the Muscat Securities Market have announced dividend proposals, which are as follows.
BankDhofar proposes cash dividend, bonus shares
The board of directors of BankDhofar has recommended a cash dividend of 13.5 per cent and a bonus share of 7.5 per cent for 2016. The total cash dividend will amount to OMR25.64 million, while the bonus shares will constitute 142.44 million shares of 100 baisas each. The proposed dividend and financial statements are subject to the approval of the Central Bank of Oman and shareholders at the annual general meeting scheduled to be held on March 27, according to a disclosure statement posted by the bank on the MSM website.
Shell Oman to pay 106 per cent dividend
Shell Oman Marketing Company’s board has decided to propose a final dividend of 106 baisas per share for 2016. The total dividend amount will be around OMR10.6 million and will be payable to shareholders in April 2017, after getting approval from the annual general meeting.
The company has achieved 13 per cent growth in net profit for 2016 at OMR16 million, while total revenue stood 16.9 per cent higher at OMR392.9 million, according to a disclosure statement posted on the MSM website.
Oman Cables proposed 85 per cent cash dividend
The board of directors of Oman Cables Industry has recommended a cash dividend of 85 per cent, which is subject to the approval of the shareholders at the annual general meeting scheduled for March 26. Sales revenue was down by 6 per cent at OMR228.6 million in 2016, from OMR283.5 million achieved in 2015. Net profit attributable to equity holders of the parent company was OMR15.3 million in 2016, compared to OMR18.5 million in the previous year.
Ahli Bank proposes 10 per cent dividend
Ahli Bank’s board has recommended a 10 per cent cash dividend for 2016. The bank said its net profit for 2016 stood 6.9 per cent higher at OMR29.6 million from OMR27.7 million posted in the previous year.