Mubasher: Raysut Cement Company’s (RCC) board of directors recommended Monday the distribution of cash dividends representing 50% of the paid-up capital compared to 75% in 2014.
The proposed cash dividends will be discussed in the upcoming ordinary general meeting which will be held on 29 March, according to bourse filing.
The cement firm's net profit fell in the fourth quarter of 2015 by 21.5% to OMR5.14 million ($13.3 million), compared to OMR6.55 million ($16.95 million) in the same quarter of 2014.
Net profit also declined by 23.6%.at the end of 2015 to OMR20.95 million, against OMR 27.43 million in 2014.
Raysut earlier posted OMR15.8 million net profits during the first nine months of 2015, compared to OMR20.87 million in the same period of 2014.
The company's stock dipped at the beginning of today’s trading by 2.44.
