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Taageer proposes 13% cash dividends for 2016

Taageer proposes 13% cash dividends for 2016
(Photo Credit: Arabianeye-Reuters)
Taageer Finance
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Mubasher: Taageer Finance’s board recommended distributing cash dividends for the fiscal year 2016.

The company will pay 13% cash dividends of the capital totaling OMR 3.3 million, according to a bourse filing on Wednesday.

Taageer added that the proposed distributions are subject to the approval if the Central Bank of Oman and the company’s general meeting.

The firm posted OMR 4.47 million in 2016 from OMR 4.42 million in the year-ago period, with a 1.11% increase.

The company’s capital amounts to OMR 25.36 million, distributed over 253.6 million shares, at a nominal value of OMR 0.100 per share.