Bank Muscat proposes 35 per cent dividend

 Bank MuscatBank Muscat has proposed 35 per cent dividend for the year 2017. Continuing the bank’s strong dividend payment track record, the board has proposed 30 per cent cash dividend for 2017. In addition, 5 per cent dividend in the form of bonus shares has been proposed.

The bank’s capital adequacy ratio after the cash dividend payout will be 18.56 per cent, which is well above the regulatory minimum, according to a disclosure statement posted on MSM website.

The meeting of the board of directors chaired by Sheikh Khalid bin Mustahail Al Mashani, Chairman, on January 29 approved the 2017 financial results and dividend payout, subject to approval of the Central Bank of Oman (CBO) and shareholders of the bank.

Shareholders would receive cash dividend of OMR0.030 per ordinary share of OMR0.100 each aggregating to RO81.281mn on bank’s existing share capital.

The bank posted a net profit of RO176.82mn in 2017 compared to RO176.56mn reported in 2016, an increase of 0.1 per cent. The complete set of financial statements which are subject to Central Bank of Oman approval, are available in the Muscat Securities Market website.

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