“Refinery Company” Distribute 10% Dividends and Raise Capital to JOD100m

تم نشره في Sun 1 May / May 2016. 12:00 AM
  • The refinery in Zarqaa

AMMAN — The general committee for the Jordan Petroleum Refinery Company approved the financial data for 2015, and passed the recommendations by the board of directors to raise Company capital by 33 per cent from the current amount of JOD75 million to JOD100 million.

The increase was facilitated through the capitalisation of JOD25 million of the Refinery’s retained earnings, distributed in shares among registered stock holders.

On the other hand, 10 per cent in dividends are to be cashed out to investors and shareholders, with a reallocation from reserve capital at JOD1.94 million to earnings retained, and JOD4.1 million designated to the mandatory reserve account.

The Refinery made JOD42 million in profit, compared to JOD38.9 million in 2015, citing an 8 per cent increase for the year 2015.

Moreover, the total amount of sales for 2015 has decreased 43 per cent to JOD2.62 billion, compared to JOD4.6 billion in 2014, given the drop in demand by 26.9 per cent and the low domestic margin price of oil and derivatives in Jordan.