Mubasher: Al Suwadi Power will hold its ordinary general meeting on 14 March to consider the board’s proposal of distributing cash dividends not less than 11% of the paid-up capital, or 11 baisa per share, with a total value worth OMR 7.86 million.
The Omani company said in a bourse filing that shareholders will discuss authorising the board to determine and distribute cash dividends to shareholders in May/June 2016 and November/December 2016 out of the retained earnings as per the audited financial statements for the fiscal year ended 31 December, 2015.
Al Suwadi will elect a new board of directors amongst shareholders or non-shareholders.
The company posted earnings worth OMR 7.25 million ($18.78 million) for the fiscal year 2015, a 50.4% rise as compared to OMR 4.82 million ($12.49 million) in the previous fiscal year
