Muscat: The board of directors of BankMuscat has proposed the payout of a 45 per cent dividend to its shareholders on Tuesday, the bank said in a statement.
The board's recommendation is subject to approval at the annual general meeting and by regulatory authorities, a bank press release said late on Monday.
The cash dividend works out to 0.020 Omani riyal (1.9 fils) per ordinary share of 0.100 riyal each, aggregating 21.54 million riyals on the bank's existing share capital and stock dividend in the proportion of one share for every four ordinary shares.
Figures
The bank's net profit dropped to 73.7 million riyals in 2009 against 93.7 million riyals reported in 2008.
The operating profit stood at 208.9 million riyals for the year ended December 31, 2009 against 152.6 million riyals for the year ended December 31, 2008, an increase of 36.9 per cent.
