Muscat - Shareholders at Muscat Finance's annual general meeting (AGM) recently approved the audited financials for the year 2013, along with a cash dividend of eight per cent and a stock dividend of eight per cent, resulting in an increase in capital to over RO23mn.
Muscat Finance reported yet another year of improvement in profits and uninterrupted dividends since its inception, said a press release on Sunday, adding that during the year, the company diversified its sources of funding by including non-convertible bonds in its portfolio.
The company's board of directors were also elected at the meeting held on March 27 and two new nominees - Juma Abdullah Khalfan al Khamisi as a nominee of MOD Pension Fund, and Sameer Kumar on behalf of Zawawi Trading - were elected. Faisal Mohammed al Yousef was re-elected as chairman of the company.
Muscat Finance offers a range of products, including financing for cars, commercial vehicles, construction equipment, plant and machinery, financing of receivables and working capital requirements, added the release.
© Muscat Daily 2014
