Taageer approves 10% cash dividend
Shareholders also approved a proposal to allocate OMR30,000 as part of the company’s corporate social responsibility (CSR) initiatives in 2018.
Times News Service
MUSCAT: The shareholders of Taageer Finance approved the audited financials for the year ending December 2017 at the company’s Annual General Meeting (AGM) held on March 22, 2018.
The AGM, held at Muscat Intercontinental Hotel, was presided over by Chairman Sheikh Faisal Al Hashar and attended by members of the board.
The shareholders also approved a 10 per cent cash dividend distribution for the year 2017 and a proposal to allocate OMR30,000 as part of the company’s corporate social responsibility (CSR) initiatives in 2018.
The company registered an after-tax profit of OMR4.703 million in 2017. The total revenue of the company grew by 9.90 per cent in the year 2017 as compared to 2016, and the net leasing portfolio stood at OMR147.476 million.The company saw basic earnings of 18.55 baisas per share (EPS). The net worth of the company stands at OMR38.633 million as of December 2017-end.
The shareholders also elected the board for a new term of three years starting March 22, 2018. The company made a disclosure on the outcome and decisions of the AGM on the Muscat Securities Market (MSM) website on March 22, 2018.
The board thanked its customers, shareholders, regulators, bankers and staff for their contribution and support.