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Al Ezz Dekheila’s OGM raises H1 dividends to EGP 1.28bn

Al Ezz Dekheila’s OGM raises H1 dividends to EGP 1.28bn
The OGM has agreed to distribute dividends worth EGP 646.88 million, or EGP 40 per share to shareholders for Q2-18
Al Ezz Dekheila Steel
IRAX
0.08% 1,251.00 1.00

Cairo – Mubasher: The ordinary general meeting (OGM) of Al Ezz Dekheila Steel has approved an EGP 534.5 million in cash dividend distribution to shareholders for the second quarter of 2018.

The OGM has agreed to distribute dividends worth EGP 646.88 million, or EGP 40 per share, the company said in a filing to the Egyptian Exchange (EGX) on Sunday.

Total dividends for the first half of this year amounted to around EGP 80 per share at a total value of EGP 1.28 billion, according to the filing.

Al Ezz Dekheila Steel previously posted it turned to profitability during H1-18, as compared with the corresponding period last year.

The Egyptian steel manufacturer logged EGP 902.9 million in consolidated profits in the six-month period ended June, against a net loss of EGP 78.9 million the prior-year period.