Pyramisa Hotels and Resorts’ ordinary general meeting (OGM) approved dividends distribution at a total amount of EGP 64.8 million for the fiscal year ended 31 December 2014.

The dividends will be distributed in the form of bonus shares at 0.15 shares for each 1 share, equivalent to 3.24 million total shares, the company said in a bourse statement.

In related development, the company's extraordinary general meeting (EGM) gave a nod to increasing the company's issued capital by EGP 64.8 million, from EGP 432.2 million to EGP 496.9 million.  

The company posted net profits of EGP 92.4 million for 2014, compared with EGP 46.1 million for 2013.

Pyramisa is capitalised at EGP 432.2 million, divided into 21.6 million shares at EGP 20 par value each.