Taageer AGM approves 10% cash dividend

Muscat: The shareholders of Taageer Finance Company approved the audited financials for the year ending December 2017 at the company’s Annual General Meeting (AGM) held on March 22, 2018.
The shareholders meeting was held at Muscat Intercontinental Hotel and was presided by the Chairman Sheikh Faisal Al Hashar and attended by the members of the board. The shareholders also approved distribution of cash dividend of 10 per cent for the year 2017.
It also approved a proposal to allocate OMR30,000 for the company’s corporate social responsibility (CSR) initiatives in 2018.
The company registered a profit after tax of OMR4.703 million in 2017. The total revenues of the company grew by 9.90 per cent in the year 2017 as compared to the previous year 2016 and the net leasing portfolio stood at OMR147.476 Million.
The company made a basic earnings of 18.55 baisas per share (EPS). The net worth of the company stands at OMR38.633 million at the end of December 2017.
The shareholders in the AGM elected the board for a new term of three years starting from March 22, 2018. The company made a disclosure on the outcome and decisions of AGM in the Muscat Securities Market (MSM) website on March 22, 2018.
The board thanked customers, shareholders, regulators, bankers and staff for their contribution and support.