Mubasher: Gulf Hotels Oman, listed on the Muscat Securities Market (MSM), on Tuesday said its shareholders approved the distribution of cash dividends of 250 baisas per share.

Distributions represent 25% of the company’s capital and were approved during the company’s ordinary general meeting (OGM) on Monday, the company said in a bourse statement.

With a capital of OMR 3.43 million distributed on 3.43 million shares at a par of value OMR 0.1 per share, the total value of the distribution amounts to OMR 857,000.

Gulf Hotels Oman previously posted annual profits of OMR 1.74 million in 2016, compared to OMR 2.25 million in 2015.

The company’s previous OGM approved a cash dividend of 35% of capital, distributed at 350 baisas per share in March 2016 and another of 25% of capital or 250 baisas per share in October.