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Omantel to distribute dividends at 70%

Omantel to distribute dividends at 70%
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Omantel
OTEL
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Mubasher: The general assembly of Oman Telecommunications Company (Omantel) has approved the board’s recommendation to distribute cash dividends at 70 baisas per share, Oman News Agency (ONA) reported.

The dividends will represent 70% of the company’s capital, which totals OMR 75 million distributed over 750 million shares, with a par value of OMR 0.1 per share.

The telecom operator posted profits of OMR 116.7 million in 2016, a growth of 140.6% from OMR 48.5 million in 2015.

Revenues amounted to OMR 525.3 million last year, up 2.1% from OMR 514.3 million in the year before.