Cairo – Mubasher: The ordinary general meeting of Talaat Moustafa Group Holding Company (TMG Holding) approved a cash dividend of EGP 0.22 per share for 2023.

The dividends will be paid in two equal installments on 31 May and 31 July 2024, respectively.

The shareholders greenlighted the board’s dividends proposal on 23 March, according to a bourse filing.

In the January-December 2023 period, TMG Holding recorded 44% higher consolidated net profits after taxes and non-controlling interests at EGP 3.31 billion, versus EGP 2.30 billion in 2022.

Meanwhile, the standalone net profit after tax increased by 3.20% to EGP 682.46 million last year from EGP 660.98 million as of 31 December 2022.