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FINANCIAL NEWS
Oman Orix Leasing approves 25% cash dividends
31 Mar 2011
(MENAFN) Oman Orix Leasing Company (OOLC) chairman, Khalid Hilal Al Maawali, stated that the company plans to pay a stock dividend of 25 percent, reported Times of Oman.
Al Maawali also said that the payment was recommended during the company’s annual general and extraordinary meetings, and was approved by shareholders at the meetings.
The chairman added that the firm’s total revenue in 2010 was USD18.96 million. He also said that its accumulated provisions stood at USD7.48 million, and its new business volume was USD90.65 million.
It is worth noting that Oman Orix Leasing Company was incorporated in 1994 as a joint venture between reputed local and foreign financial institutions including International Finance Corporation, a member of the World Bank group.
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