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Majan College annual profit down 7%, dividends recommended

Majan College annual profit down 7%, dividends recommended
Majan College’s headquarter (Photo Credit: Company Website)
Majan College
BACS
1.01% 0.10 0.00

Mubasher: Majan College’s net profit after tax for the fiscal year ended on 31 August 2016 fell by 6.9% to OMR 1.95 million from OMR 2.09 million for the previous year.

The company’s board of directors recommended cash dividends of 30 baisas per share (30% of the paid-up capital) for the year ended on 31 August 2016, totalling OMR 9 million.

The company’s annual general meeting (AGM) will be held on 29 November to discuss the proposal, according to a bourse filing released on Tuesday.

The board also recommended to the AGM to appoint Baker Tilly for external audit for the year ending 31 on August 2017.