Raysut Cement cancels cash dividendVisits : 28

Raysut Cement cancels cash dividend

The Board of Directors of Raysut Cement Company (RCCI), listed on the Muscat Stock Exchange, decided to withdraw its previous recommendation to distribute cash dividends to its shareholders.

The company attributed, in a statement to the Stock Exchange, today, Thursday, that decision to an unexpected increase in gas prices, and its negative impact on the companys profits and cash flows.

The Board of Directors had recommended at the beginning of last March a cash dividend representing 12.5 percent of the companys paid-up capital, at 12.5 baisas per share.

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