MSM listed companies announce distribution of attractive dividends
The joint stock companies listed on the Muscat Securities Market (MSM) have announced to distribute attractive cash and stock dividends for their shareholders for the year 2016, thanks to the good performance of the companies last year.
As of February 21 around 55 listed companies from different sectors have announced that they will distribute dividends, according to an Oman News Agency report released on Saturday.
Most of the MSM listed companies have already announced to hold their annual general meetings (AGM) in March to discuss their 2016 performance as well as the recommended cash and stock dividends by their boards.
Shell Oman Marketing Co topped the list of companies that will distribute cash dividend of 106 per cent or 106bz for each share with a nominal value of 100bz.
Oman Refreshments Co came second with 100 per cent cash dividend or 100bz for each share followed by Oman Cables Industry which came third with 85 per cent cash dividend for 2016.
Oman International Hotel Management Co said that it will distribute 75 per cent cash dividend, while Oman Oil Marketing Co announced to distribute 60 per cent cash dividend for the year 2016.
Oman Fiber Optic Co said it will distribute 30 per cent cash dividend for each share as the company recorded a net profit of RO2.5mn for the year 2016 against RO1.6mn reported in the previous year.
Oman Packaging Co will also hold its AGM on March 1 to discuss the recommendation made by the board to distribute 20 per cent cash dividend.