Muscat – Mubasher: NBK Capital, a subsidiary of the National Bank of Kuwait (NBK), said on Sunday that it adjusted the fair value (FV) of Bank Muscat from OMR 0.81 to OMR 0.77 to incorporate the 5% bonus shares (Ex. dividend date of 19 March).

NBK Capital said that it maintains its ‘buy’ recommendation for the stock, which is listed on the Muscat Securities Market (MSM) and the Bahrain Bourse.

The bank reported a profit of $424.2 million in 2014, an increase by 7.3% compared to figures from 2013.

Its board of directors proposed a 45% dividend, divided into 25% as cash, 5% as stock and 15% as convertible bonds.