Nawras Board moots dividend of 50pc of net profit

Omani Qatari Telecommunications CompanyOmani Qatari Telecommunications Company

SAOG (NawrasNawrasLoading...) has announced that following a meeting of the NawrasNawrasLoading... Board on February 23, 2011, the Directors have decided to recommend to shareholders a dividend payment of 38 baizas per share, representing 50 per cent of net profit for the year 2010. The dividend payment is subject to approval of shareholders at the AGM on March 26, 2011.

The dividend is based on a full year net profit for 2010, following the successful IPO of 40 per cent of the company shares on the Muscat Securities Market in November 2010. The Board of Directors also approved the audited financial statements for the year ended 2010 which will be published shortly.