Oman – Mubasher: Oman Cables Industry announced that its annual general meeting (AGM) approved on Sunday a cash dividend representing 90% of capital or 90 baisa per share.

The AGM also approves the board of directors’ report and the proposal to allocate OMR 100,000 for community social responsibility (CSR), in addition to the auditors’ report for 2014.

Oman Cables reported a net profit after tax of OMR 19.9 million ($51.7 million) in 2014 compared to OMR 18.4 million, the year before, registering an increase by 8%.

The company’s capital amounts to OMR 8.9 million divided on 89.7 million shares.