Mubasher: The ordinary general meeting (OGM) of Bank Sohar approved on Thursday the recommendation of the board of directors to distribute cash dividends and bonus shares for 2016.

The OGM approved distributing 5% of the issued capital at 5 baisas per share, according to the bank’s statement on Monday to the Muscat Securities Market (MSM).

It also approved distributing 10% bonus shares for 2016 at 10 shares for each 100 shares, the statement said.

The bank’s capital stands at OMR 160.45 million distributed over 1.61 million shares with a par value of OMR 0.1 per share.

Bank Sohar achieved net profits of OMR 19.11 million in 2016 compared to OMR 27.75 million in 2015, showing a drop of 31.1%.

By the end of March 2017, the shareholders had approved distributing 5% of the issued capital as cash dividends for 2015 at 5 baisas per share, and bonus shares of 10% of the bank’s capital at 10 shares for each 1,000 shares.