Eighty listed firms declare annual dividends for 2014

16/03/2015 08:05 AST

As many as 80 Omani listed companies have announced dividends for the year ended 2014, according to the Muscat Securities Market (MSM).

Sources said that all blue-chip companies have maintained their dividends, with dividend declarations this year being similar to 2013. As many as 130 companies are listed on the Muscat Securities Market.

The total estimated dividend payment for 2014 could reach OMR370 million, if interim dividends paid earlier by some blue-chip firms are also taken into consideration.

The five major blue chips that paid maximum cash dividends on the local bourse are Oman Telecommunications Company (115 per cent, including 40 per cent interim dividend), Al Maha Petroleum (110 per cent), Oman Refreshment Company (100 per cent), Shell Oman Marketing Company (92 per cent) and Oman Cables (90 per cent).

Among other firms, Hotel Management and Salalah Mills will each pay 65 per cent cash dividends, Raysut Cement will pay 75 per cent, Oman Oil Marketing Company will pay 60 per cent and Sweets of Oman will pay 50 per cent.

Traditionally, telecommunication, oil marketing firms and utilities are those companies that pay maximum dividends in Oman. Although most annual general meetings are scheduled in March, investors will receive actual payments in the first week of April.

Market experts believe that 25 to 30 per cent of total dividends will come back to the bourse as reinvestments, which will depend on investor sentiments, market outlooks and fundamentals of companies.

Also, the investor community will opt for deploying their dividend money in the market, rather than depositing in banks due to low interest rates.

Times of Oman