Former monopoly operator in the sultanate reported an 11% fall in fourth-quarter net profit
Oman Telecommunications (Omantel) said on Monday its board had proposed paying a cash dividend of 75 percent of the par value of the company's shares, equivalent to 0.075 rials ($0.19) a share.
The proposed cash amount, for which no timeframe was given but which is in line with what the company paid for the second half of 2013, will be voted on by shareholders at a meeting on March 22.
Omantel's board will also ask shareholders at the meeting to authorise it to pay an interim cash dividend in August worth up to 40 percent of the par value of shares. The company paid 0.04 rials a share as an interim dividend for the first half of 2014, according to Thomson Reuters data.
The former monopoly operator in the sultanate reported an 11 percent fall in fourth-quarter net profit on Sunday to 26.5 million rials, according to Reuters calculations.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.