The combined dividend payout of the Sultanate's corporate sector has shown a remarkable 37 per cent growth at RO 167 million in 2005 over the previous year, according to an estimate by a leading investment and brokerage company. The 35.2 per cent growth in net earnings of listed companies last year enabled them to pay such a hefty dividend, said Shankar Kailasam, Vice-President of the Gulf Investment Services (GIS).

Kailasam said that a major chunk of this money would be reinvested ...

The shareholders of Shell Oman Marketing Company (SOMC) yesterday approved the board’s proposal to raise the upper limit of foreign shareholding in the company from 49 per cent to 70 per cent. Shell group has 49 per cent stake in the RO 10 million-share capital of SOMC. "The move to open shares to a wider market is good for the shareholders”, Dr Andrew Wood, Chairman of Shell Oman, told the Observer.

“More people will be available to buy the company’s shares...

The Oman International Bank (OIB) has decided to raise its authorised capital to RO 100 million. During an annual general meeting (AGM) here yesterday, the OIB general assembly agreed to make amendments to the bank's articles of association, augmenting the foreigners' ownership from 25 per cent to 35 per cent.

The AGM also approved 23 per cent cash profits (dividends) to shareholders, as well as 20 per cent free shares. Reem bint Omar al Zawawi, Board Chairwoman, praised the OIB's p...