MUSCAT: Oman Telecommunications said, in a meeting, that board has planned to pay 75 percent of par value of company’s shares that corresponding to 0.075 rials ($0.19) a share.
The proposed cash amount, for which no time frame was given but which is in line with what the company paid for the second half of 2013, will be voted on by shareholders at a meeting on Mar. 22.
Omantel’s board will also ask shareholders at the meeting to authorise it to pay an interim cash dividend in August worth up to 40 percent of the par value of shares. The company paid 0.04 rials a share as an interim dividend for the first half of 2014, according to Thomson Reuters data.
The former monopoly operator in the sultanate reported an 11 percent fall in fourth-quarter net profit on Sunday to 26.5 million rials, according to calculations.
