Muscat Finance to distribute 20% dividends

03 Apr 2011

(MENAFN) Muscat Finance Company (MFC) chief executive, Ajit Engineer, stated that the firm would pay 20 percent dividends to shareholders as it saw its profits rise in 2010, as well as an improvement in uninterrupted dividend, reported Times of Oman.

Ajit also said that shareholders in the pioneer in corporate leasing and auto finance agreed on distributing 12 percent stock dividend and 8 percent cash dividend in its annual general meeting (AGM).

The CEO added that the company would pay the amount of USD17.84 million from the USD19.19 million injected in cash.

It is worth noting that MFC is a publicly held Omani General Stock Company registered in the Sultanate of Oman in 1987. The Company is licensed and governed by the Central Bank of Oman and is listed on Muscat Securities Market.

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