Nawras to distribute 38pc cash dividends
Muscat, March 27, 2013
Nawras, an Ooredoo company and a leading telecom service provider in Oman, has announced plans to distribute cash dividends equivalent to 38 per cent of the nominal value of the share (38 Baisas per share) to the investors.
Addressing the Annual General Meeting (AGM) on Wednesday, Nawras chairman Sayyid Amjad Mohammed Al Busaidi said, “Our unwavering commitment to investing in the best available technology for the benefit of our customers is a cornerstone of the company’s operational strategy and will continue into 2013 and beyond."
Nawras had earlier reported a 22.1 per cent drop in its net profit for 2012 which fell to RO37 million from RO47.5 million a year ago owing to lower Ebitda and higher depreciation partially offset by lower interest cost.
Al Busaidi said 2012 had seen considerable efforts focused on re-energising the company's customer experience.
"This involved significant investment in programmes aimed at deepening our understanding of our customer needs.This investment will continue through 2013 and will result incontinued enhancements to our customer experience," he added.
During the AGM, the directors’ report for the year ended December 31, 2012 was approved as was the corporate governance report for the same period.
The AGM later elected Mohamed Jassim Al Kuwari unopposed as a board member for the current term ending in 2014.
Deloitte were appointed as external auditors of the Company for the year ending 31 December 2013.-TradeArabia News Service
More IT & Telecommunications Stories
- Talia seals new partnership with Thuraya
- 4-pillar approach for telecom operators to boost growth
- Dubai mobile emissions below global standards
- Nawras signs capacity contract with SES
- Etisalat showcases satellite solutions at Cabsat
- Batelco launches 4G LTE roaming
- Gulf Air clinches best innovation award
- Viva inks Pepsi partnership deal
- Du offers free smarphones on tablet purchase
- Batelco launches double credit promotion
- Cyber threats focus of Bahrain security talks
- Bahrain tech expo to honour innovators
- Scope ME named distributor for InfoWatch
- Nawras quadruples 3G+ mobile services
- Menatelecom expands bill paying network
- Du joins new global cable consortium
- Kuwait moves to create telecoms watchdog
- Batelco backs Royal Fund for Martyrs
- Egypt's Global Telecom posts $749m Q4 loss
- Red Hat launches open source BPM suite
- Batelco announces new board
- Batelco offers improved broadband
- You don't own phone numbers, warns TRA
- Tech giants back top Qatar ICT event
- Du to provide wifi access in public areas
- Zain finalises $800m, five-year loan facility
- Ooredoo Q4 net profit falls 36pc to $140m
- Mobily, Etisalat team up for LTE roaming
- Batelco approves $84m dividends for 2013
- Etisalat Q4 profit rises 70pc to $394m