MUSCAT: Muscat Securities Market (MSM) listed joint stock companies announced cash and stock dividends for their shareholders; thanks to the good performance during last year. Most MSM listed companies will hold their annual general assembly meetings (AGAM) next March to discuss the performance during the past year, as well as the cash and stock dividends recommended by their boards. Oman Refreshments Company, which will hold its annual general assembly meeting on March 1, announced that the board recommended 100 Baisas cash dividend for each share with nominal value of RO 2 and 160 Baisas (the highest in terms of value for MSM listed companies). The nominal value of the share is 100 Baisas.
During 2016, the company, whose capital is RO 5 million, managed to post RO 10.3 million net profits compared to RO 9.6 million in 2015 with retained earnings that stood at RO 35.3 million at the end of December 2016.
Oman Optic Fiber Cables said that it will distribute 30 per cent cash dividend; 300 Baisas for each share with nominal value of RO 1 as the company net profits during 2016 stood at RO 2.5 million compared to RO 1.6 million in 2015.
Oman Packing Company will also hold its AGAM on March 1 to discuss the recommendation made by the board to distribute 20 per cent cash dividends; 200 Baisas per each share. As of February 21, about 55 companies from the different sectors announced that they will distribute dividends.
Shell Oman Marketing topped the list of companies that will distribute cash dividends with 106 per cent or 106 Baisas for each share with nominal value of 100 Baisas. This is the same dividend for 2015. Oman Refreshments Company came second with 100 per cent cash dividend or 100 Baisas for each share.
Oman Cables Industry came third with 85 per cent cash dividends compared to 90 per cent in 2015.
Oman International Hotel Management Company said that the company will distribute 75 per cent cash dividends or 750 Baisas for each share with a nominal value of RO 1. Oman Oil Marketing Co said that it will distribute 60 per cent cash dividends or 60 Baisas per each share; the same rate during last year. — ONA
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