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OQ Basic Industries to distribute dividends worth OMR17.2mn

06/10/2025 05:12 AST

OQ Basic Industries Corporation (OQ) continues to strengthen its presence as a key driver of economic growth in the Sultanate of Oman, based on a clear vision and a solid strategy.

The company's listing on the Muscat Stock Exchange is a significant milestone that has contributed to consolidating its position in the local and regional financial markets and opening new horizons for investors to enhance their confidence in the national industrial sector.

Engineer Khalid bin Khalfan Al Asmi, CEO of OQ Basic Industries, emphasised that the company's listing on the Muscat Stock Exchange in December 2024 represented a qualitative shift that strengthened the financial market's depth and increased liquidity and trading rates.

He noted that the company's shares have secured their place among the top five most traded companies in terms of value and volume for several consecutive months, and continue to maintain this position, reflecting the company's solid financial position and the quality of its operational performance.

In a statement to the Oman News Agency, he said that the company's listing added qualitative value to the industrial sector by expanding the investment base in the petrochemical industry, as its production portfolio includes methanol, ammonia, liquefied petroleum gas, and its derivatives. This has boosted investor confidence and presented a model for a company based on assets and sustainable cash flows.

He explained that OQ Basic Industries' share performance since its listing has been positive and stable, as investors have demonstrated an understanding of the company's intrinsic value and long-term strategy, overcoming short-term market fluctuations.

He noted that the company has won several awards on the Muscat Stock Exchange, including inclusion on the Excellence List and winning the Best Performing Company Award. This embodies its unwavering commitment to governance, transparency, and continuous communication with investors, and confirms the quality of its operational and financial performance.

He added that the company will distribute cash dividends exceeding OMR17.2 million (equivalent to 5 baisas per share), for the first half of fiscal year 2025, with a maturity date of October 19. He further noted that the regular dividend distribution policy reflects the company's commitment to its shareholders and supports market confidence in its sustainable performance.

Engineer Khaled bin Khalfan Al Asimi explained that the listing contributed to strengthening governance and internal control structures, raising the level of transparency in disclosures, improving operational efficiency, increasing market value, and expanding the investor base. The company also adopted an integrated communication strategy based on transparency and consistency through periodic publications, participating in regional and international conferences, and organising direct meetings with investors, making them partners in the growth journey.

He said the successes achieved were reflected in increased institutional and foreign interest in the stock, with international investment institutions showing increasing interest in holding individual meetings to gain a broader understanding of the company's strategy and future plans, reflecting growing confidence in its standing both locally and internationally.

He stressed that OQ Basic Industries is proceeding with its future plans to strengthen its position in the financial market by achieving strong financial results and maintaining a sustainable dividend policy, in addition to studying initiatives to increase market value, most notably the project to expand methanol production by 50 percent and improve operational efficiency.

The CEO of OQ Basic Industries added that the company is committed to creating sustainable value that will contribute to building a company capable of thriving for generations to come, in line with the goals of Oman Vision 2040 and enhancing the Sultanate of Oman's position as an industrial and investment destination.