Mubasher: Ubar Hotels and Resorts Company announced on Wednesday that its ordinary general meeting (OGM) will gather on 20 March.
The OGM will discuss a proposal by the company’s board of directors to distribute cash dividends at 8% of the capital, equivalent to 8 Baisas per share, for the fiscal year 2015, totalling OMR 400,000 ($1.038 million).
The company is capitalised at OMR 5 million ($12.987 million) distributed across 50 million shares, with a nominal value of OMR 0.100 ($0.26).
Ubar Hotels’ profit rose in the fourth quarter of 2015 by 16.1% to OMR 335,000 ($870,129) from OMR 288,500 ($749,350) in 2014.
The company’s shareholders earlier agreed to distribute cash dividends at 17% of the share’s par value or 17 Baisas per share for the fiscal year 2014.
