Cairo – Mubasher: The ordinary general meeting (OGM) of Sidi Kerir Petrochemicals (Sidpec) has raised cash dividends for 2017 to EGP 1.4 per share from EGP 1.2.

The dividends will be distributed through two installements: The first amounts to EGP 1 per share and will be distributed within a month of the OGM entitlement, and the other installment stands at EGP 0.4 per share to be distributed within three weeks of distributing the first installment.

The OGM noded to 2017 financial statement and the board’s report of the company’s activities for the same year, Sidpec added in a filing to the Egyptian Exchange (EGX) on Sunday.

The OGM also approved the board's decision to donate a total amount of EGP 12 million for 2018, the company noted.

Sidpec’s capital amounts to EGP 1.05 billion distributed over 525 million shares at a turnover of EGP 2 per share.