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Omantel BOD recommends 100% cash dividend

14 Feb 2011

(MENAFN) Oman Telecommunications Company (Omantel) reported a recommendation from its board of directors for giving dividends of 100 percent cash dividend on the company’s paid-up capital of RO75 million, reported Times of Oman.

The biggest MSM-listed company in terms of market capitalization said that such the recommendation is still waiting for shareholders approval in an annual meeting that would be held next month.

The company also said that net profit in 2010 stood at RO112 million. Omantel’s revenue grew went up to RO416.6 million, compared to RO412.3 million a year in 2009.

It is worth noting that due to the company’s infrastructure development conducted during the year, expenses increased by 10.7 percent compared to 2009 and stood at RO297.1 million.

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