Muscat - The shareholders of Taageer Finance Co approved the distribution of ten per cent cash dividend for the year 2017 at the company’s annual general meeting (AGM) on Thursday, according to a press release.

At the AGM, the shareholders also approved the audited financial statements of the company for the year ended December 31, 2017.

The AGM, held at the InterContinental Muscat, was presided by Taageer Finance chairman, Sheikh Faisal al Hashar and was attended by other board members.

The AGM also approved a proposal to allocate RO30,000 for the company’s corporate social responsibility initiatives in 2018.

Taageer Finance registered a net profit of RO4.7mn in 2017. The company’s total revenues grew 9.9 per cent in 2017 as compared to the previous year. Its net leasing portfolio stood at RO147.47mn. Net worth of the company stands at RO38.63mn as of the end of December 2017.

Taageer Finance shareholders at the AGM elected the board for a new term of three years starting from March 22, 2018.

 

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