Article 28 of the Corporate Governance Code requires that the Board of Directors shall submit to the General Assembly a clear policy on Dividend Distribution.

This shall include the background and rationale of such policy in terms of the best interest of the Company and the shareholders.

The payment of dividends is subject to the recommendation of the Board of Directors and approval by the Company’s shareholders.

Since becoming a Listed Company the company paid the following Cash dividend and Bonus Shares:

Years Cash Dividend Bonus Shares
2007 40% 20%
2008 60% 10%
2009 50% 50%
2010 70% 20%
2011 55%
2012 47.5%
2013 55%
2014 60%
2015 50%
2016 40%

The declaration of dividends is discretionary and generally in line with market practice.  Any future dividend payments by the Company will depend on a number of factors including but not limited to the company’s operational performance, financial results, financial condition and prospects, as well as cash and liquidity requirements (including capital expenditure and investment plans), the market situation, legal regulatory and other such factors as the Board may deem relevant at the time.

The Company believes that the payment of dividends is an important element in creating shareholder value for its investors and subject to the above, it is the policy of the company at this time, which may be subject to changes in the future, to propose to the shareholders cash dividends generally in line with the market.

Contact Us

Tel: (+974) 4455 8888                Fax: (+974) 4455 8880              Email:  

Not readable? Change text. captcha txt