Mubasher: Muscat Gases Company’s (MGMC) ordinary general meeting (OGM) approved distributing cash dividends of 30 baisas per share or 30% of the company’s capital, according to a company statement.

The company’s capital amounts to OMR 3 million distributed on 30 million shares with a nominal value of OMR 0.1 per share. The cash dividends amount to OMR 900,000.

The shareholders approved in March 2016 to distribute dividends of 35% of the capital, or 35 baisas per share.

MGMC’s annual profits retreated 41.8% reaching OMR 763,590 in 2016, compared to OMR 1.31 million in the corresponding period in 2015.