Bank Muscat recommends 30% dividends for FY15

Mubasher: Bank Muscat proposed a 30% dividend for the fiscal year 2015, according to a bourse filing on Tuesday.

The bank’s board recommended 25% cash dividend for FY15, in addition to 5% bonus shares.

The bank maintained sufficient level of profits to further strengthen the capital base and be better positioned for possible challenges.

Shareholders would receive cash dividends of OMR 0.025 for every share worth OMR 0.100, totalling OMR 57.29 million on bank’s existing share capital.

They would also get one bonus share for every 20 ordinary shares aggregating to 114.59 million shares of OMR 0.100 each, amounting to OMR 11.46 million.