Bank Muscat shareholders granted approval for the payout of 35 per cent dividend for 2017 at the Annual General Meeting (AGM) presided by Sheikh Khalid bin Mustahail Al Mashani, Chairman, at the Bank’s head office.
Continuing the strong dividend payment track record, the bank will make a payout of 30 per cent cash dividend for the year 2017, which is consistent with the cash dividend paid in the previous years. In addition, shareholders will also receive 5 per cent dividend in the form of bonus shares. The bank’s Capital Adequacy Ratio (CAR) post the cash dividend payout will be 18.56 per cent, which is well above the regulatory minimum of 13.65 per cent.
Shareholders would receive cash dividend of OMR0.030 per ordinary share of OMR0.100 each aggregating to OMR81.281 million on the bank’s existing share capital. In addition, they would receive bonus shares in the proportion of 1 share for every 20 ordinary shares aggregating to 135,468,092 shares of OMR0.100 each amounting to OMR13.547 million.
Sheikh Khalid bin Mustahail Al Mashani thanked the banking community, shareholders and clients for the support and commitment to the bank, which helped maintain performance momentum during the year.