Mubasher: Oman United Insurance generated profits of OMR 151,300 ($391,700) in the fourth quarter of 2015, against losses of OMR 813,000 ($2.1 million) in the same quarter of 2014, according to the company’s audited financials on Thursday.
Profits declined 7.3% to OMR 3.31 million in the fiscal year 2015, a decline of 7.3% to OMR 3.57 million in the fiscal year 2014.
The board recommended 24% cash dividends or 24 baisas, representing 24% of the company’s capital.
By 12:38pm Oman time, the company’s stock rose 10% or OMR 0.22.
The annual general meeting will be held on 30 March to discuss the board’s proposal.
