Cairo-Mubasher: The extraordinary general meeting of Egyptian Company for International Tourism Projects (Americana) gave a nod to increasing issued capital from EGP 291.6 million to EGP 400 million.

The EGP 108.4 million capital hike will be financed from the retained earnings for the financial period ended 30 June 2015, through the distribution of bonus shares at 0.4 to 1.

Meanwhile, the company's ordinary general meeting approved the distribution of cash dividends for H1, with total amount of EGP 120.44 million for the first half of 2015, out of which shareholders will account for 90% or EGP 108.4 million, while the employees will account for 10% or EGP 12.04 million.

Americana reported net profits of EGP 65 million in the first half of 2015, down from EGP 122.8 million in the similar period of 2014.