New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 19
Upcoming dividend of ر.ع0.018 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 31 March 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Omani dividend payers (6.2%). Higher than average of industry peers (4.9%). Reported Earnings • Mar 10
Full year 2025 earnings released: EPS: ر.ع0.047 (vs ر.ع0.038 in FY 2024) Full year 2025 results: EPS: ر.ع0.047 (up from ر.ع0.038 in FY 2024). Revenue: ر.ع88.8m (up 1.1% from FY 2024). Net income: ر.ع5.36m (up 28% from FY 2024). Profit margin: 6.0% (up from 4.8% in FY 2024). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Declared Dividend • Mar 01
Dividend increased to ر.ع0.018 Dividend of ر.ع0.018 is 17% higher than last year. Ex-date: 26th March 2026 Payment date: 31st March 2026 Dividend yield will be 6.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 4.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
Dhofar Insurance Company SAOG announces Annual dividend, payable on March 31, 2026 Dhofar Insurance Company SAOG announced Annual dividend of OMR 0.0175 per share payable on March 31, 2026, ex-date on March 26, 2026 and record date on March 25, 2026. Announcement • Feb 26
Dhofar Insurance Company SAOG, Annual General Meeting, Mar 25, 2026 Dhofar Insurance Company SAOG, Annual General Meeting, Mar 25, 2026. New Risk • Feb 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Omani stocks, typically moving 5.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (5.9% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (ر.ع28.3m market cap, or US$73.5m). New Risk • Dec 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.9% average weekly change). Market cap is less than US$100m (ر.ع26.7m market cap, or US$69.4m). New Risk • Mar 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.8% Last year net profit margin: 8.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.8% average weekly change). Profit margins are more than 30% lower than last year (4.8% net profit margin). Market cap is less than US$100m (ر.ع25.3m market cap, or US$65.6m). Declared Dividend • Mar 06
Dividend of ر.ع0.015 announced Dividend of ر.ع0.015 is the same as last year. Ex-date: 26th March 2025 Payment date: 1st January 1970 Dividend yield will be 6.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
Dhofar Insurance Company SAOG announces Annual dividend Dhofar Insurance Company SAOG announced Annual dividend of OMR 0.0150 per share, ex-date on March 26, 2025 and record date on March 25, 2025. Announcement • Feb 26
Dhofar Insurance Company SAOG, Annual General Meeting, Mar 25, 2025 Dhofar Insurance Company SAOG, Annual General Meeting, Mar 25, 2025. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: ر.ع0.005 (vs ر.ع0.008 in 2Q 2023) Second quarter 2024 results: EPS: ر.ع0.005 (down from ر.ع0.008 in 2Q 2023). Revenue: ر.ع21.3m (up 119% from 2Q 2023). Net income: ر.ع602.3k (down 29% from 2Q 2023). Profit margin: 2.8% (down from 8.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. New Risk • Aug 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (ر.ع23.7m market cap, or US$61.5m). New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (ر.ع23.7m market cap, or US$61.5m). New Risk • Jun 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (ر.ع22.8m market cap, or US$59.2m). Announcement • Mar 14
Dhofar Insurance Company SAOG, Annual General Meeting, Mar 28, 2024 Dhofar Insurance Company SAOG, Annual General Meeting, Mar 28, 2024, at 07:00 US Eastern Standard Time. Agenda: To consider and approve the report of the Board of Directors for the financial year ending 31st December 2023; To consider and approve the Corporate Governance report for the financial year ended 31st December 2023; To consider the auditor's report and approve the Balance Sheet and Profit & Loss Account for the financial year ended 31st December 2023; To notify the shareholders of the donations made by the Company about corporate social responsibility during the financial year ended 31st December 2023; and to consider other matters. Announcement • Mar 13
Dhofar Insurance Company SAOG Proposes Cash Dividend for the Financial Year Ended 31 December 2023 Dhofar Insurance Company SAOG proposed cash dividend of OMR 15 per share for the financial year ended 31 December 2023 at its AGM to be held on March 28, 2024. Declared Dividend • Mar 01
Dividend of ر.ع0.015 announced Dividend of ر.ع0.015 is the same as last year. Ex-date: 31st March 2024 Payment date: 1st January 1970 Dividend yield will be 6.3%, which is lower than the industry average of 6.9%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: ر.ع0.009 (vs ر.ع0.003 in 3Q 2022) Third quarter 2023 results: EPS: ر.ع0.009 (up from ر.ع0.003 in 3Q 2022). Revenue: ر.ع38.6m (up 336% from 3Q 2022). Net income: ر.ع861.0k (up 173% from 3Q 2022). Profit margin: 2.2% (down from 3.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Aug 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Market cap is less than US$100m (ر.ع20.2m market cap, or US$52.5m). Reported Earnings • Mar 06
Full year 2022 earnings released: EPS: ر.ع0.037 (vs ر.ع0.026 in FY 2021) Full year 2022 results: EPS: ر.ع0.037 (up from ر.ع0.026 in FY 2021). Revenue: ر.ع32.3m (up 13% from FY 2021). Net income: ر.ع3.77m (up 47% from FY 2021). Profit margin: 12% (up from 9.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: ر.ع0.003 (vs ر.ع0.005 in 3Q 2021) Third quarter 2022 results: EPS: ر.ع0.003 (down from ر.ع0.005 in 3Q 2021). Revenue: ر.ع9.00m (up 26% from 3Q 2021). Net income: ر.ع315.4k (down 41% from 3Q 2021). Profit margin: 3.5% (down from 7.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ر.ع0.007 (vs ر.ع0.008 in 2Q 2021) Second quarter 2022 results: EPS: ر.ع0.007 (down from ر.ع0.008 in 2Q 2021). Revenue: ر.ع7.59m (up 5.7% from 2Q 2021). Net income: ر.ع748.2k (down 7.3% from 2Q 2021). Profit margin: 9.9% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS ر.ع0.005 (vs ر.ع0.01 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ر.ع7.14m (up 16% from 3Q 2020). Net income: ر.ع534.3k (down 45% from 3Q 2020). Profit margin: 7.5% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS ر.ع0.008 (vs ر.ع0.011 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: -ر.ع5.24m (down 182% from 2Q 2020). Net income: ر.ع807.1k (down 27% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Oct 17
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.ع3.61m, up 152% from the prior year. Total revenue was ر.ع25.9m over the last 12 months, up 2.7% from the prior year.