Mubasher: Dhofar Cattle Feed Company’s losses shrank in the fourth quarter of the fiscal year 2015 by 87.6% to OMR 124,000, versus OMR 1 million in the same period of 2014.

The company turned to profitability in 2015 after recording a net profit of OMR 1.37 million, against losses of OMR 2.77 million in 2014, according to a bourse filing released on Tuesday.

The Muscat-listed company’s board of directors proposed cash dividends at 5% of the share’s par value, equivalent to 5 baisas per share, and 5% bonus shares for the fiscal year 2015.

The board earlier recommended freezing cash dividends for the fiscal year 2014 due to losses, and the last dividends distribution was in 2012 at 17% of the share’s par value.