Omantel approves cash dividend

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The group continued to grow in the markets in which it operates .
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  • Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.
  • Omantel Group revenues and profits, as the group's revenues were up by 9.7percent

MUSCAT, OMAN – Oman Telecommunications Company (Omantel) held its annual ordinary general meeting (e-AGM) through the electronic platform for holding general assemblies of Muscat Clearance and Depository.

The annual ordinary general assembly of the company, chaired by Mulham bin Basheer Al-Jarf, Chairman of the Board of Directors, in the presence of Board members, auditors, legal advisor, observer of the Financial Services Authority, approved the proposal to distribute cash dividends of 55 baisas per share to registered shareholders on March 30 2024, a press release said.

Omantel’s Annual Ordinary General Assembly also approved the consideration of the Board of Directors’ report on the Company’s activities and financial position during the financial year ended December 31 2023, the company’s Corporate Governance Report and the auditor’s report on the Company’s audited financial statements for the financial year ended December 31 2023.

Mulham bin Basheer Al-Jarf, Chairman of Omantel, said, “Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.”

He said, “Omantel Group was able to improve its financial performance during 2023, achieving significant growth in both revenues and profits, as the group’s revenues were up by 9.7percent, while net profit grew by 13.1 percent compared to 2022″.

He added, “The group continued to grow in the markets in which it operates in through the Kuwaiti Zain Mobile Group, achieving outstanding performance in key important markets such as Saudi Arabia, Iraq, Kuwait and Sudan” Al Jarf concluded.

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