We are pleased to inform you that the Board of Directors of United Power Company (SAOG) resolved the following in its meeting held on February 9, 2017
1- The Board approved the audited Financial Statements of the Company for the year ended 31 Dec 2016 along with the Board of Directors' Report, Management Discussion Analysis Report and Report on Code of Corporate Governance. 2- The Board recommended to distribute final cash dividends for the financial year ended 31/12/2016, subject to the approval of the Shareholders in the forthcoming AGM, as follows: - Ordinary shareholders at 50% of the nominal value (500 Baiza for each share). - Preference shareholders at 53.9%of the nominal value (Baiza 539 for each share).
The entitlement of final dividends is for the Company's shareholders registered with Muscat Clearing & Depository Company SAOC on the AGM date to be held on 13 March 2017.
Thanking you, For United Power Company (SAOG) Murtadha bin Ahmed bin Sultan Chairman