united power company ( SAOC )

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Resolution of the Board of Directors' in its meeting held on February 14, 2018

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 14, 2018

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 31/12/2017, subject to the approval of the Shareholders in the forthcoming AGM, as follows:

  • Ordinary shareholders at 150% of the nominal value (One Rial Five Hundred Baiza for each share).
  • Preference shareholders: The Dividends will be  determined after Capital Market Authority’s approval   of the Board of Directors' proposal, but not less than 150% (One Riyal and five hundred Baiza per 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 8 March 2018.