United Power proposes cash dividend; names new members

Mubasher: United Power Company’s board of directors recommended the distribution of cash dividends and appointed new members.

The board proposed paying cash dividends for common and preferred stocks at 50% and 54.5% to 500 baisa and 545 baisa respectively.

The company’s ordinary general meeting earlier approved distributing cash dividends for FY14 according to the proposed ratios for common stocks at 300 baisa per share by 30% of the capital, and the other for preferred stocks at 328 baisa per share or 32.8% of capital.

The board approved the company's financial statements for FY15.

It appointed Stephen Rath as a temporary member until the next ordinary general meeting, and named Merdas bin Najib AlRawahi as financial director.

Mubasher Contribution Time: 07-Feb-2016 11:52 (GMT)