Muscat Finance approves 13% dividends

26/03/2018 07:51 AST

Muscat Finance, the pioneer in auto finance, consumer durable finance, equipment leasing, working capital finance and debt factoring services, reported yet another year of strong profits and uninterrupted dividends since inception.

At the annual general meeting (AGM) held on March 22, 2018, the shareholders approved the accounts for the year 2017 and approved a cash dividend of 8 per cent and a stock dividend of 5 per cent, on the capital of OMR28.54 million.

This will increase the capital to OMR29.97million. In 2017, the company had registered net assets of OMR158 million and maintained an enviable track record of successful operations over the last 30 years.

The company offers a wide range of products like financing for cars, heavy equipment, financing of receivables, consumer durable and working capital requirements.

With the government's priorities in mind, the company has been focusing on developing its business with the small and medium enterprises (SMEs). The company has an extensive network of branches, apart from the head office in Muscat (Al Khuwair), and serves its clientele through its full-fledged branch offices in Barka, Sohar, Sur, Salalah, Ibri and Nizwa.

Times of Oman