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FINANCIAL NEWS
Oman Cables to pay 40% dividend
25 Jan 2011
(MENAFN) Oman Cables said that its board plans to pay a cash dividend of 40 percent after the company’s net profit towered up by 22 percent from $17.0728 million in 2009 to $20.9530 million in 2010, reported Times of Oman.
The company reported a 29 percent hike in sales income amounting to $519.685 million compared to only $402.504 million a year before.
The company also mentioned that it had previously estimated 30 baisas per share but the dividend payout was higher.
It was expected for sales in the fourth quarter of 2010 to be low due to extended Hijri and National day holidays, however and as usual, Oman Cable�s fourth quarter volume sales were stronger than other quarters.
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