Port Services Corp board proposes 55 per cent dividend; shares surge

Muscat: Port Services Corporation’s board has recommended a cash dividend of 55 per cent of the paid up capital to the shareholders. This is subject to the approval of shareholders at its annual general meeting, which is scheduled on March 27.
The annual general meeting will also consider a request to authorise the board to distribute an interim cash dividend up to a maximum of 30 per cent of the paid-up capital to the shareholders sometime in August this year, according to a disclosure statement posted on MSM website.
The board has approved the financial results of the company.
The shares of Port Services Corporation surged ahead by 9.67 per cent to 295 baisas amid 208,368 shares changing hands, after the announcement of an attractive cash dividend.