Al Omaniya shareholders approve 20% dividend
Date
3/21/2018 2:12:59 AM
(MENAFN- Muscat Daily) Muscat- The annual general meeting (AGM) of Al Omaniya financial Services Co was held on Monday and the meeting was presided by the company's chairman Khalid Said al Wahaibi.
In a press release, Wahaibi said that the company's shareholders approved the audited financial statements and also a dividend of 20 per cent for the financial year 2017, comprising of 17 per cent cash dividend and three per cent compulsorily convertible unsecured bonus stock bonds.
Wahaibi said Al Omaniya has been paying consistent dividend since inception. He further stated that cumulative dividend paid by the company till date stands at 423 per cent.
Al Omaniya's board of directors appreciated the measures taken by the Central Bank of Oman and the Capital Market Authority with a view to strengthening the financial sector in the sultanate.
Al Omaniya reported a net profit of RO6.98mn for the year 2017. The company's loan book stood at RO223mn at the end 2017, the highest among the non-banking finance companies in Oman.
Net worth of the company stands at RO70.4mn as per the regulatory limits.
Al Omaniya has a well diversified portfolio of assets with non-performing assets ratio of 1.29 per cent, the lowest in the industry.
The company has the largest asset base, highest net worth, highest provision coverage, lowest non-performing loans and largest market capitalisation among leasing and finance companies listed on the Muscat Securities Market.
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