Nawras Board recommends first dividend of 50% of net profit

Published February 27th, 2011 - 10:20 GMT

Nawras

Omani Qatari Telecommunications Company, Nawras, announces that following a meeting of the Nawras Board on 23 February 2011, the Directors have decided to recommend to shareholders a dividend payment of Bzs 38 per share, representing 50% of net profit for the year 2010. The dividend payment is subject to approval of shareholders at the AGM on 26 March 2011.

The dividend is based on a full year's net profit for 2010 , following the successful IPO of 40% of the company's shares on the Muscat Securities Market in November 2010.

The Board of Directors also approved the audited financial statements for the year ended 2010 which will be published shortly.

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Background information

Omani Qatari Telecommunications Company SAOG was founded and registered in the Sultanate of Oman in December 2004. It launched its service in March 2005 as the challenger mobile operator in Oman operating under the name Nawras and launched its international gateway in April 2010, its corporate fixed and broadband services in May 2010, and its residential fixed and broadband services in June 2010. More...

Omani Qatari Telecommunications Company SAOG was founded and registered in the Sultanate of Oman in December 2004. It launched its service in March 2005 as the challenger mobile operator in Oman operating under the name Nawras and launched its international gateway in April 2010, its corporate fixed and broadband services in May 2010, and its residential fixed and broadband services in June 2010.

Nawras is majority owned by the Qtel Group and also has a number of significant Omani shareholders which ensures that the company is strongly integrated into the Omani society.

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