Mubasher: Oman’s Capital Market Authority (CMA) and the Muscat Securities Market (MSM) approved on Tuesday a proposal by Phoenix Power’s board of directors to pay cash dividends at 2.8 Baisas per share for the fiscal year 2015.

Cash dividends distribution will be during next June and January 2017 from the company’s retained earnings provided that the total of these earnings doesn’t exceed 7.9% of the company’s capital.

The Muscat listed company’s profit grew in 2015 by 154.4% to OMR 28.77 million from OMR 11.31 million in 2014.