Cairo – Mubasher: Obour Land for Food Industries’ ordinary general meeting (OGM) has approved to distribute cash dividends of 30 piasters per share for fiscal year 2016, totalling EGP 60 million (30% of the capital).

Shareholders also agreed to transfer EGP 74.14 million to retained profits, according to a bourse filing.

Furthermore, the OGM adopted the financial statements for the year ended 31 December 2016, in addition to the board's and auditors' reports on the year.

The stock stood at EGP 15 on Wednesday.