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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




Tags: Oman | investors | dividend | Nawras | Ooredoo |

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