Oman’s Muscat Finance Approves 20% Dividend

Omani Muscat Finance, the pioneer in auto finance, equipment leasing, working capital finance and debt factoring services, reported yet another year of improvements in profits and uninterrupted dividends since inception. 

At the recent annual general meeting (AGM), the shareholders approved the accounts for the year 2011 and also approved a stock dividend of 20 per cent, on the capital of RO16.8 million. This will increase the capital to RO20.16 million. With the approval and distribution of this dividend, the company will distribute a cumulative total of RO30.26 million by way of dividends against the capital of RO7.4 million injected in cash. 

The year 2012 is the silver jubilee year and the company has an enviable track record of successful operations over the last 24 years. As a part of its exercise of renewing its corporate identity, the company has unveiled a new logo with fresh colors and bold lines, Times of Oman reported.