Mubasher: The ordinary general meeting (OGM) of Al Madina Takaful Company approved distributing cash dividends of 6 baisas per share, or 6% of the company’s capital, according to a company statement.

Total dividends amount to OMR 1.05 million, Al Madina added in its statement to the Muscat Securities Market (MSM) on Tuesday.

The company’s capital stands at OMR 17.5 million distributed over 175 million shares, with a nominal value of OMR 0.1 per share.

Annual profits increased 96.2% in 2016, reaching OMR 1.62 million compared to OMR 827,830 in 2015, according to the company’s financial statements.

The stock retreated 4.4% in mid-Tuesday trading to OMR 0.09.