Mubasher: The annual ordinary general meeting (OGM) of the National Bank of Oman (NBO) approved distributing cash dividends and bonus shares to shareholders for 2016, according to the bank’s statement.
The proposed cash dividends represent 15.92% of the company's capital or 15.92 baises per share and totalling OMR 23.5 million, the bank added in its statement to Muscat Securities Market (MSM) on Monday.
NBO’s shareholders approved the distribution of bonus shares at 5% of the company’s capital, which translates to one bonus share for each 20 shares, according to the statement.
In April 2016, the bank’s OGM approved a cash dividend representing 17% of the share's par value of shares, or 17 baisas per share and bonus shares representing 10% of the bank’s capital by one bonus share for each 10 shares (1-for-10) for 2015.
The bank reported annual profits of OMR 55.8 million in 2016, down 7.15% compared to OMR 60.11 million in the year earlier.
NBO's share closed Monday's trading session at OMR 0.22, dropping 11.9% from its Sunday's level.
