Bank Sohar AGM okays 5pc cash,10pc share dividends

MUSCAT: Bank Sohar’s shareholders attended the Annual General Meeting (AGM) on March 30, 2017 at the Crown Plaza Hotel Muscat. During the AGM, the Chairman of the Board of Directors, Members of Boards of Directors and the Executive Management from Bank Sohar briefed the shareholders on the annual results of the bank, and discussed key agenda items.

The AGM agenda covered 15 topics, starting the meeting with a full review of the Board of Directors’ Report as presented by Mr Abdullah Humaid al Mamary, Chairman of the Board of Directors of Bank Sohar, for the financial year ended December 31, 2016. Over the course of the AGM, the shareholders discussed and approved the distribution of cash dividends to shareholders at the rate of 5 per cent of the capital (5 baizas per share) and the distribution of share dividend to the shareholders at the rate of 10 per cent of the capital (10 shares for each 100 shares).

During the meeting, the assembly was briefed on the report of the Sharia Supervisory Committee of Sohar Islamic — the Islamic window of Bank Sohar for the financial year ended December 31, 2016 and the approval of the fees of the Board of Directors and the committees for the coming year, in addition, as per the AGM agenda they discussed distribution of the bonuses to the Board of Directors for the financial year ended December 31, 2016.