Mubasher: The general assembly of Ubar Hotels and Resorts approved the board's recommendation to distribute cash dividends for 2016.

The company will distribute cash dividends at 4% of the capital, equivalent to 4 baisas per share for fiscal year 2016, totalling OMR 200,000.

The company's capital amounts to OMR 5 million, distributed over 50 million shares at a nominal value of OMR 0.1 per shares.

Annual profits also decreased by 47.18% to OMR 427,670 compared to OMR 894,910 in 2015.