Mubasher: Shareholders at Raysut Cement Company on Tuesday approved the board’s recommendation to distribute cash dividends of 65 baisas per share for 2016.

The cash distribution represents 65% of capital, the company said in its statement released Wednesday.

The cement company’s capital amounts to OMR 20 million distributed on 200 million shares at a par value of OMR 0.1 per share, bringing the total value of distribution to OMR 13 million.

Raysut Cement previously distributed cash dividends to shareholders in April 2016 at 50 baisas per share for 2015.

The company reported a net profit of OMR 21.17 million in 2016 compared to OMR 20.95 million in 2015.

Raysut Cement’s share retreated 3.11% during Wednesday’s mid-trades to OMR 1.4.