Cairo – Mubasher: Amer Group Holding Co’s ordinary general meeting (OGM) has approved distributing cash dividends of EGP 75.23 million to shareholders for 2017 profits, with a per-share dividend of EGP 1.5.

The OGM has also approved the distribution of retained profits on 31 December 2016 at EGP 0.015 per share, the Egyptian real estate firm said in a filing to the Egyptian Exchange (EGX) on Tuesday.

The OGM has nodded to the transfer of brands owned by its unit Tropicana for Projects to Porto International Investment, the statement showed.

The OGM also gave the green light to its arm Tropi 2 for Tourism Development to sign two development contracts with Porto Pyramids and Delmar for Touristic Development in return of obtaining 25% of the project's revenues.

The OGM also allowed its unit Delmar for Touristic Development to ink two real estate contracts for 25% of the planned projects’ revenues.

Amer Group’s capital amounts to EGP 1.003 billion distributed over 5.015 billion shares at a par value of EGP 0.2 per share.