Oman - Mubasher: The shareholders of Gulf Hotels Oman approved the distribution of cash dividends at 250 baisas per share, according to a bourse filing.

The company said in a statement to the Muscat Securities Market (MSM) on Tuesday that dividends equal 25% of the company’s capital, and were approved during the company’s ordinary general meeting (OGM) on Monday.

Gulf Hotels Oman reported a 22.7% decline in annual profits in 2016 to OMR 1.74 million, compared to OMR 2.25 million in the year before.