Cairo – Mubasher: The ordinary general meeting (OGM) of Orascom Construction Ltd (OC) has approved the distribution of a $30 million cash dividends.

The OGM has also endorsed the financial statements for the full-year ended December 2017, the company said in a filing to the Egyptian Exchange (EGX) on Monday.

The OGM had approved an accumulated loss closure of $281.3 million last week.

The company had previously posted a net profit of $85.1 million for 2017, compared to $53 million in the year before.

OC’s capital amounts to EGP 116.7 million distributed over 116.7 million shares at a par value of EGP 1 per share.